Board hereby approves the share swap arrangement whereby 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 ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Qualitek Labs Limited's Board has approved a share swap arrangement to acquire the remaining 2,54,959 equity shares of Interstellar Testing Centre Private Limited (ITCPL), completing its 100% ownership. Under the deal, Qualitek will issue 16,72,531 fresh equity shares of ₹10 each at a swap ratio of 6.56:1 (6.56 Qualitek shares for every 1 ITCPL share). ITCPL operates in testing and assurance services for drugs, pharma, food, chemicals, cosmetics, and other sectors, with FY25 turnover of about ₹40.58 crore and net profit of ₹1.94 crore. The transaction involves common directors on both sides (related party), but is said to be at arm's length based on an independent valuer's report. Completion is targeted by June 25, 2025, subject to shareholder and regulatory approvals.
This acquisition makes ITCPL a wholly-owned subsidiary, expanding Qualitek Labs' testing capabilities and revenue base. Shareholders should note potential dilution from 16.7 lakh new shares and await the open offer trigger details if applicable. Synergies in the testing services space could boost consolidated earnings going forward.