Dynamic Services & Security Limited signed a Share Purchase Agreement to acquire 71.95% stake in Mehai Technology Limited from Sudhir Ostwal, Sudhir Ostwal and sons and Shalini Jain for INR 15.4 million.

Dynamic Services & Security Limited (NSEI:DYNAMIC) signed a Share Purchase Agreement to acquire 71.95% stake in Mehai Technology Limited (BSE:540730) from Sudhir Ostwal, Sudhir Ostwal and sons and Shalini Jain for INR 15.4 million on October 18, 2021. Under the terms Dynamic Services & Security Limited will acquire 7.7 million shares for INR 2 per share. In a related transaction Dynamic Services made an offer to acquire 26% stake in Mehai Technology Limited for INR 130 million.

Sudhir Ostwal, Sudhir Ostwal and sons and Shalini Jain will sell 44.54%, 13.45% and 13.97% stake in Mehai Technology Limited respectively. As of October 18, 2021, Board of Directors of Dynamic Services approved the transaction. Transaction is is subject to satisfaction of all the conditions of the SPA and receipt of the statutory or regulatory approvals.