Caspian Corporate Services Limited (BSE:534732) entered into an agreement to acquired Sumathi Corporate Services Private Limited for INR 162 million on January 3, 2023. The total Purchase Consideration is paid by issue and allotment of 1,04,58,892 equity shares of the Company having face value of INR 1 each, at a price of INR 12 per equity share and INR 3.64 million in Cash. The turnover of Sumathi Corporate Services Private Limited for the year 2021-2022 is INR 867.30496 million. The Board has discussed and approved the raising of funds and issuance of securities to acquire 45,00,000 Equity shares of the Company having face value of INR 10 each representing 100% paid-up share capital of Sumathi Corporate Services Private Limited,. The transaction is subject to approval from regulator, as may be required, and subject to shareholders' approval for issue of equity shares on preferential basis. The transaction is expected to be completed in the upcoming 3 to 6 months from the current date.

Caspian Corporate Services Limited (BSE:534732) completed the acquisition of Sumathi Corporate Services Private Limited on March 16, 2023.