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Tanla Platforms moves up on getting nod to acquire entire stake in VF Digital India
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Tanla Platforms is currently trading at Rs. 848.20, up by 8.10 points or 0.96% from its previous closing of Rs. 840.10 on the BSE.
The scrip opened at Rs. 845.20 and has touched a high and low of Rs. 856.00 and Rs. 840.10 respectively. So far 28540 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1333.25 on 09-Jun-2022 and a 52 week low of Rs. 506.10 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 869.75 and Rs. 775.05 respectively. The current market cap of the company is Rs. 11424.03 crore.
The promoters holding in the company stood at 44.17%, while Institutions and Non-Institutions held 14.31% and 41.51% respectively.
Tanla Platforms has received approval from board of directors for acquisition of 100% of the paid-up share capital of ValueFirst Digital Media (VF Digital India) from the existing shareholders of VF Digital India. The Company has subsequently executed the share purchase agreement (SPA) with VF Digital India and its shareholders for the Proposed Acquisition, which shall be completed as per the terms of the SPA.
The Board has also approved the acquisition by the Company (either directly or through any of its subsidiaries) of 100% of the paid-up capital of ValueFirst Middle East FZC (VF FZC), by way of a combination of a primary investment and secondary acquisition of shares from the existing shareholders of VF FZC (Overseas Acquisition). The Company has subsequently executed a binding term sheet with VF FZC and its shareholders for the Overseas Acquisition, for which definitive documents will be executed in due course. The Board of Directors of the company at their meeting held on June 8, 2023 has approved the same.
Tanla Platforms (formerly known as Tanla Solutions) is engaged in providing integrated telecom infrastructure solutions and products. Tanla’s range of services includes product development and implementation in wireless telephony industry, aggregator services and off shore development services.
