APIS India has acquired 97,30,861 equity shares of Rs 10 each at par aggregating to Rs 9,73,08,610 by way of private placement of Anantadrishti Smart India, the wholly owned subsidiary of the Company (ASIPL).
The company has provided unsecured loan to the ASIPL, however the ASIPL has not in the position to repay the loan due to heavy losses, therefore the management of ASIPL has decided to convert its unsecured loan along with interest into equity shares by way of private placement under the provisions of Section 62(1)(c) read with Section-42 or any other provision of the Companies Act, 2013.
APIS India has strong presence in domestic market as well as is a leading exporter of Honey from India to major international markets.
