Udayan Mandavia, Kedar Mehta and Hitesh Joshi, Chief Executive Officer of Interactive Financial Services Limited, completed the acquisition of 21.21% stake in Interactive Financial Services Limited from consortium of sellers.
Udayan Mandavia, Kedar Mehta and Hitesh Joshi, Chief Executive Officer of Interactive Financial Services Limited, entered into share purchase agreement to acquire 21.21% stake in Interactive Financial Services Limited (BSE:539692) from consortium of sellers for INR 5.1 million on June 9, 2016. Under the terms, acquirers will acquire 0.64 million shares of Interactive Financial Services Limited at INR 8 per share. Udayan Mandavia will acquire 0.46 million shares and hold a total 1.18 shares on closing. Kedar Mehta and Hitesh Joshi will acquire 0.15 million and 0.037 million shares respectively. In a related transaction, Udayan Mandavia, Kedar Mehta and Hitesh Josh, Chief Executive Officer of Interactive Financial Services Limited, made an offer to acquire 26% stake in Interactive Financial Services Limited (BSE:539692) for INR 6.28 million.
Udayan Mandavia, Kedar Mehta and Hitesh Joshi, Chief Executive Officer of Interactive Financial Services Limited, completed the acquisition of 21.21% stake in Interactive Financial Services Limited (BSE:539692) from consortium of sellers on September 23, 2016. Post-transaction, the acquiring consortium holds 45.11% stake in Interactive Financial Services Limited.