Announced Wed, 24 Jun · 14:52 IST
Identixweb board approves additional 20.04% stake buy in subsidiary Munim ERP
Price
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AI summary
Identixweb board approved buying an additional 20.04% stake in subsidiary Munim ERP, acquiring 6,693 equity shares for Rs. 1,223.48 Lakh by converting an inter-corporate loan. Post-deal, Identixweb will hold 70.05% in MEPL, an ERP and accounting software firm. MEPL turnover grew from Rs. 3.95 Lakh in FY24 to Rs. 196.06 Lakh in FY26, but has negative net worth of Rs. 310.19 Lakh. Related-party deal at arm's length. To close in 30 days.
Likely market impact
Funded by loan conversion, no fresh cash outflow. Lifts control in growing ERP unit to 70%, though MEPL has negative net worth, raising risk note.