Intimation regarding execution of Share Purchase Agreement (SPA) between Lucent Industries Limited (LIL) and Mobavenue Media Private Limited (MMPL) along with its existing shareholders.
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Lucent Industries Limited (BSE: 539682, formerly Sylph Education Solutions) has signed a Share Purchase Agreement on September 3, 2025 to acquire 100% equity in Mobavenue Media Private Limited (MMPL), an AI-powered digital advertising and consumer growth technology company. Shareholders had already approved the deal via postal ballot on August 29, 2025. The acquisition is a cash deal at INR 57,890 per share, totalling around INR 59.68 crores, and is expected to complete within 90 days. Mobavenue reported total income of INR 98.28 crores and PAT of INR 14.17 crores in FY24, with operations in India, Singapore, UAE, UK, USA, Australia, Russia, Indonesia, and Malaysia. The transaction is a related-party deal — the sellers are Lucent's existing promoters (Kunal Kothari, Tejas Rathod, and Prachi), who collectively hold 67.62% of Lucent and 100% of Mobavenue.
This is a major acquisition that shifts Lucent's business focus into digital advertising and AI-driven marketing tech, bringing in a profitable, growing target (Mobavenue's revenue nearly tripled from FY22 to FY24). However, because the deal is with the promoters themselves, minority shareholders should note the related-party nature and watch for the final completion details and integration progress over the next 90 days.