IIFL Wealth Management has informed that the Board of Directors of the Company, at its meeting held on Wednesday, March 30, 2022, have, approved the execution of a letter agreement (‘Letter Agreement’) by the Company with BC Asia Investments X (‘Investor’), pursuant to which the Company has entered into the Letter Agreement today March 31, 2022. The Letter Agreement has been entered into in connection with the share purchase agreement dated 30 March, 2022, executed by and amongst the Investor and General Atlantic Singapore Fund and FIH Mauritius Investments, certain public shareholders of the Company (‘SPA’), pursuant to which the Investor is purchasing an aggregate of 22,155,000 equity shares of the Company (‘Sale Shares’). The equity shares of the Company are being purchased at a price of Rs 1,661 per equity share. The Company is not a party to the SPA and the effectiveness of the Letter Agreement is conditional upon the Investor’s purchase of the Sale Shares. To clarify, the Letter Agreement does not impact the management and control of the Company. The disclosures required in terms of Clause B (5) of Annexure I of the SEBI circular dated September 9, 2015, bearing reference no. CIR/CFD/CMD/4/2015 are set out in ‘Annexure A’ to this letter.
The above information is a part of company’s filings submitted to BSE.
Company Name | CMP |
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Max Financial | 1106.90 |
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