Richa Info Systems Limited (NSEI:RICHA) agreed to acquire 48.72% stake in West Coast Forex Private Limited on November 8, 2023. The consideration will be paid by issuing 17.5 million shares of Richa Info Systems for INR 72.25 per equity share for consideration other than cash. The transaction involves swap of Equity shares of Richa Info Systems Limited for the stake of Maxtree Private Limited.

Tushar Dineshchandra Shah and Hemaben Tushabhai Shah, Promoters have interest in the entity being acquired. The transaction has been approved by board of directors, and is subject to shareholders of Richa Info Systems and regulatory board. Transaction is expected to completed in the next 3 to 6 months.