#Veefin Solutions acquired Nityo Tech Private Limited. Below is a summary of the document.
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Date: September 27, 2024
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Name of acquirer: Veefin Solutions Limited (formerly Veefin Solutions Private Limited) through its subsidiary Infini Systems Private Limited
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Name of the acquired entity: Nityo Tech Private Limited
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Acquisition stake: 100% stake consisting of 1,00,000 equity shares of Rs. 15,000 each.
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Cost of acquisition: INR 1,50,00,00,000
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Nature of consideration: Transfer of shares for cash consideration and equity share swap
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Industry of the acquired entity: Information technology and other information service activities
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Objects of acquisition:
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Increase in revenue
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Building synergies
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Turnover of Nityo Tech Private Limited:
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As on 31.03.2024 – Rs. 45,73,55,510
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As on 31.03.2023 – Rs. 76,18,968
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As on 31.03.2022 – N.A.
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Date of incorporation of Nityo Tech Private Limited: 04/08/2022
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