Intimation of Cancellation/withdrawal of Proposal dated 18.01.2023 about Compulsorily Convertible Preference Shares(CCPS) of Entritt Solutions Private Limited and Sale of shares of RR Fincap ....
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Awaiting price reaction for this filing.
RR Financial Consultants Ltd has cancelled and withdrawn its January 2023 proposal involving two linked transactions with Entritt Solutions Private Limited. The original deal involved Entritt Solutions issuing Compulsorily Convertible Preference Shares (CCPS) and RR Financial Consultants selling shares of its subsidiary RR Fincap Private Limited to Entritt Solutions. The deal has been called off with mutual consent among all three parties. As a result, Entritt Solutions will redeem its CCPS, and RR Financial Consultants will retain ownership of RR Fincap without any share transfer.
Neutral to slightly negative for minority shareholders as the previously announced strategic transaction will not materialize; however, RR Fincap remains a wholly-owned subsidiary of RR Financial Consultants, preserving the existing group structure.