Rossari Biotech Limited to acquire further stake in RPCPPL

Rossari Biotech Limited ("RBL" or "Company") has executed a (A) share purchase agreement on July 17, 2021 with Fairplum Private Limited for the purchase of 1,50,000 equity shares amounting to 30% of the total equity share capital of Rossari Personal Care Products Private Limited ("RPCPPL") ("SPA l"); and (B) share purchase agreement on July 17, 2021 with VSTAR Family Trust for the purchase of 50,000 equity shares amounting to 10% of the total equity share capital of Rossari Personal Care Products Private Limited ("RPCPPL") ("SPA 2"). Pursuant to the completion of the transactions contemplated under SPA 1 and SPA 2, the Company shall hold 100 of the total equity share capital of RPCPPL.

The share subscription and shareholders' agreement dated June 26, 2020 executed between the Company, RPCPPL, Fairplum Private Limited, Mr. Rupesh Agarwal and VSTAR Family Trust including all amendments thereto, shall stand terminated on and from the date of completion of the transactions contemplated under SPA 1 and SPA 2.

The objective of the purchase of the shares of RPCPPL is to consolidate the shareholding of the Company in RPCPPL.

The aggregate cost of acquisition of shares is INR 2,00,00,000 (Indian Rupees Two Crores Only).

Source : Equity Bulls

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