Affle (India) Limited makes further investment in Bobble AI

Affle (India) Limited had earlier announced about the acquisition of 8.0% ownership in Talent Unlimited Online Services Private Limited ("Bobble AI") incorporated in India and also securing option(s) to acquire incremental ownership on attainment of certain key performance targets within the next 3 years.

With regards to the agreement executed by Company with the shareholders of Bobble AI on August 12, 2020 and the non-binding commitment therein, the Company has further acquired equity ownership (comprising Equity Shares, CCPS Series A and Series B) at pre-determined terms through a secondary transaction from the shareholders of Bobble AI, at an aggregate consideration of INR 120.9 million.

Further, the Company has also entered into a definitive agreement to subscribe to equity shares of Bobble AI and acquire 1,674 fully paid-up CCPS (Series C1) for a consideration of INR 220.0 million.

The above mentioned transactions are at arm's length with non related parties.

Pursuant to the above investments, total holding of the Company in Bobble AI shall be 17.72% (as on date) on a fully-diluted basis.

Shares of Affle (India) Limited. was last trading in BSE at Rs. 5242.25 as compared to the previous close of Rs. 5371.35. The total number of shares traded during the day was 2,754 and the deliverable quantity was 2754 shares.

The stock hit an intraday high of Rs. 5475 and intraday low of Rs. 5211.

Source : Equity Bulls

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