Board hereby approves that the company will issue 16,72,531 equity shares of Rs 10 each of Qualitek Labs Limited in exchange for 2,54,959 equity shares of ITCPL at a swap ratio of 6.56:1
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Qualitek Labs' board has approved issuing 16,72,531 equity shares (₹10 each) to acquire the remaining 2,54,959 shares of Interstellar Testing Centre Pvt Ltd (ITCPL) at a swap ratio of 6.56:1. This completes Qualitek's 100% takeover of ITCPL, which provides testing and assurance services across pharma, food, chemicals, environment and other sectors. ITCPL reported FY25 turnover of about ₹40.58 crore and net profit of ₹1.94 crore. The deal is a related-party transaction (common directors) but priced at arm's length based on an independent valuer's report and is subject to shareholder approval. Completion is targeted by June 25, 2025.
The acquisition will make ITCPL a wholly-owned subsidiary, expanding Qualitek Labs' testing capabilities and revenue base. Shareholders may see modest dilution from the new equity issuance, but it brings in a profitable, growing testing business aligned with Qualitek's core operations.