Jyothi Infraventures has received approval for acquisition of 100% of the Share Capital of Mizzen Digital (Target Company). The Board has approved the execution of a Share Purchase and Share Subscription Agreement (SPSSA) other necessary documents regarding the Proposed Transaction between the Company, Target Company and the shareholders of Target Company, whereby the Company agrees to acquire 100% of the share capital of the target company.
With this acquisition, the Company will gain a foothold in the software products and services space in a niche and sunrise technology vertical of Maritime / Shipping. This is an underserved sector, technologically and gives the company a unique opportunity to be in the ERP development and, therefore a front-runner to providing technology solutions in this sector.
The transaction is expected to be completed in around 3 to 4 months, subject to completion of condition precedents as detailed in the SPSSA. The board of directors in their meeting held on August 16, 2024 has approved the same.
Jyothi Infraventures engaged in handling of Infrastructure projects and also proposed to diversify into Power sector.
| Company Name | CMP |
|---|---|
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| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
| View more.. | |
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