Sylph Technologies has received approval for execution of a Term Sheet to acquire 25% of the equity shares (on a fully diluted basis) of Semitrone Conchem. Semitrone Conchem is engaged in the business of Construction Chemicals Manufacturing. The acquisition will help the company in expansion of business.
The transaction is to be completed within 180 days. For the purpose of this transaction, the parties have agreed to a pre-money valuation of the company at Rs 39.98 crore. The Board of Directors of the company has approved the same.
Sylph Technologies is engaged in the business of software and information technology, and trading in shares. The income is generated from trading in shares, and the company has also attained capabilities in developing software and undertakes job work.
