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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Thrive Future Habitats Limited disclosed acquisition of additional equity shares in its subsidiary, 1908 E-Ventures Private Limited. The Board approved transfer of 18,24,907 equity shares representing 30.31% of 1908 EVPL's paid-up capital. Out of this, 7,57,578 shares (12.59%) have been credited to the company's demat account, acquired from Srinivas Padmanabha Sapalya. Cash consideration of Rs. 7,575.78 was paid for the shares credited. The remaining shares are yet to be credited. The purpose is to make 1908 EVPL a wholly-owned subsidiary for effective management control and operational integration. The target company is in the e-commerce and online retail marketplace business, with nil turnover and a net loss of Rs. 252.42 lakhs for FY25.
This acquisition strengthens Thrive Future Habitats' control over its subsidiary and aligns with its strategy to consolidate the e-commerce business. While the target entity currently has no revenue, the move suggests the company is focused on building its digital commerce presence. The stock may see positive sentiment if investors view the wholly-owned subsidiary strategy favourably.