Share India Securities Limited has informed the Exchange that the Company has additionally acquired 81,63,265 equity shares of face value of Rs. 10/- each at a premium of Rs. 24.30/- per share aggregating to Rs. 27,99,99,990/- on a Rights Basis of Share India Capital Services Private Limited, a wholly owned subsidiary of the Company.
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Share India Securities Limited has acquired an additional 81,63,265 equity shares of its wholly owned subsidiary, Share India Capital Services Private Limited, at a face value of Rs. 10 each with a premium of Rs. 24.30 per share. The total investment aggregates to approximately Rs. 28 crore (Rs. 27,99,99,990). The acquisition was made on a Rights Basis, meaning the parent company subscribed to the rights entitlement of its subsidiary. Since Share India Capital Services is already a wholly owned subsidiary, this represents a further capital infusion into the subsidiary rather than a new acquisition.
This is an internal capital allocation move — the company is pumping additional equity into its wholly owned subsidiary, which could be used to grow the subsidiary's business, strengthen its capital base, or support regulatory requirements. No immediate impact on shareholding structure or stock price is expected as it involves an existing subsidiary.