Affle (India) Limited's promoter, promoter group & management team to consolidate the ownership of Affle Holdings Pte. Ltd. to over 75%

Affle Holdings Pte. Ltd. ("AHPL") Singapore, the Corporate Promoter of Affle (India) Limited ("AIL") confirms that AIL's individual promoter, promoter group and management team will consolidate the ownership of AHPL to over 75% based on the approved corporate actions as mentioned below.

In December 2020, AHPL's board had approved the divestment of 6.84% shareholding amounting to 1,743,386 shares in AIL. This would enable the following outcomes:

1. Deliver capital returns to investors/shareholders of AHPL and enhance AIL's individual promoter, promoter group and management team ownership to over 75%+ equity in AHPL.

2. Improve overall free float for AIL shares with a more balanced broad base of FII, DII and retail investors.

Reference to the disclosure in terms of Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 given by AHPL to the stock exchanges on December 18, 2020, it was disclosed that 4.57% shareholding amounting to 1,166,000 shares were divested. AHPL as on February 24, 2021, has further divested 1.20% shareholding amounting to 306,826 shares. Post these transactions, AHPL will control 62.60% majority stake in AIL.

AHPL's key corporate investors such as Microsoft, D2C Inc (an NTT DoCoMo, Dentsu & NTT Advertising JV) and Bennett Coleman & Co. will continue as minority shareholders.

Source : Equity Bulls

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