FINVAYU CREDIT SOLUTIONS PRIVATE LIMITED to be acquired by KailJay

What's the deal? KailJayDealroom has a profile for this one. Try Dealroom →'s board has approved acquiring FINVAYU CREDIT SOLUTIONS PRIVATE LIMITEDDealroom has a profile for this one. Try Dealroom →, making it a subsidiary through a ₹15.25 crore share swap. The company will issue 33,74,375 equity shares at ₹45.19 each to Amar Pramod Talwar, who receives the shares in exchange for his 8,000 shares in FINVAYU CREDIT SOLUTIONS PRIVATE LIMITED.

What changes now? Once complete, FINVAYU CREDIT SOLUTIONS PRIVATE LIMITED becomes a subsidiary, and Talwar is re-classified from allottee to promoter, holding a 40.31% stake on a post-issue diluted basis. KailJay also plans to raise its authorised share capital to ₹10 crore from ₹5 crore.

What could go wrong? Both the preferential issue and the capital increase require shareholder approval. The re-categorisation of Talwar to the promoter category must also comply with SEBI Takeover Regulations.

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