KUBER UDYOG : ACQUIRES 100% EQUITY OF GOLDEN IKON FLEET MANAGEMENT FOR RS 176.22 CR

• Board approved acquisition of 100% of Golden Ikon Fleet Management Pvt Ltd for ₹176.22 Cr, excluding applicable duties, levies and taxes • Consideration discharged via allotment of 7,62,85,000 equity shares of ₹10 each at ₹23.10 to Mr. Manav Bahri, Mr. Dinesh Popli and Mr. Ajay Dutta; differential ₹66,500 to be paid in cash • Golden Ikon Fleet Management will become a wholly owned subsidiary of Kuber Udyog post acquisition • Board also approved preferential allotment of 3,95,50,000 equity shares at ₹23.10 to non-promoter investors (~₹91.36 Cr) • 37,00,000 convertible warrants allotted at ₹23.10 (~₹8.55 Cr); 25% upfront received at ~₹2.14 Cr, balance on conversion within 18 months

Kuber Udyog Ltd

Open attachment

← Back to feed