Announcement under Regulation 30 of SEBI (LODR) - Update on Second phase of acquisition is attached herewith
DREAMFOLKS · price
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Dreamfolks Services Ltd has provided an update on its proposed acquisition of ETT Solutions DMCC (a Dubai-based company). The first phase involving secondary purchase of shares has been completed, with Dreamfolks now holding 34% stake in ETT. The second phase involving primary subscription to freshly issued shares is still under process and pending completion of remaining procedural and regulatory formalities. The company has indicated that the primary subscription phase may extend beyond the originally estimated timeline of 120 business days. This is a continuation of previous disclosures made in December 2025 and April 2026.
The acquisition of a 34% stake in ETT Solutions DMCC signals Dreamfolks' expansion strategy. The timeline extension for completing the primary subscription phase may cause minor investor concern, but the deal's progress indicates the acquisition is on track and remains positive for the company's growth prospects.