Intimation regarding execution of share purchase agreement between company and Mobavenue Media Private Limited along with its shareholders.
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Awaiting price reaction for this filing.
Lucent Industries Limited (now Mobavenue AI Tech Ltd) has signed a Share Purchase Agreement on September 3, 2025, to acquire 100% equity in Mobavenue Media Private Limited, an AI-powered digital advertising and consumer growth technology company. Shareholders had already approved the deal via postal ballot on August 29, 2025. The deal is a cash transaction valued at approximately INR 59.68 crores (INR 57,890 per share) and is expected to close within 90 days. Mobavenue reported FY24 total income of INR 98.28 crores and profit after tax of INR 14.17 crores, with a net worth of INR 35.31 crores, and operates across India, Singapore, Russia, UAE, Australia, UK, USA, Indonesia, and Malaysia. The acquisition is from the company's existing promoters (Kunal Kothari, Prachi and Tejas Rathod), making it a related party transaction done at arm's length.
This is a significant, revenue-generating acquisition that should materially boost the company's top line and bottom line, but since the target is owned by the same promoters, retail shareholders should watch the deal valuation and any governance concerns closely. The stock may see short-term volatility depending on market reaction to the price paid relative to Mobavenue's earnings.