Acquisition of 20% of Shares of Odyssey Infrabuild Private Limited. Pursuant to this acquisition Odyssey infrabuild Private Limited is now Wholly Owned Subsidiary of Odyssey Corporation Limited.
Price
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Odyssey Corporation Ltd has acquired the remaining 20% equity stake in its subsidiary Odyssey Infrabuild Private Limited for a total cash consideration of Rs. 1 crore (Rs. 1,00,00,000). With this purchase, Odyssey Infrabuild has become a 100% wholly owned subsidiary of the listed company. The target entity operates in the construction contracts business and was incorporated in 2011. The deal was carried out at arm's length, with share valuation determined by an independent registered valuer. Promoter group and group companies have an interest in the acquired entity, making this a related party transaction, though no regulatory or government approvals were required.
This is a small-ticket acquisition (Rs. 1 crore) that consolidates full control over an existing subsidiary, which should simplify financials through full consolidation going forward. Limited immediate impact on share price expected given the modest deal size, though it streamlines governance and decision-making in the construction business.