Goldstone Technologies Ltd completes acquisition of Equitas Technologies Pvt Ltd

Goldstone Technologies Ltd has completed the acquisition of M/s. Equitas Technologies Private Limited ("ETPL") (popularly known as "Wow trucks") by acquiring the equity shares from M/s, Equitas Holdings Limited in terms of the Share Purchase Agreement and other related documents (the "Agreement") which were executed between the Company, M/s. Equitas Technologies Private Limited ("ETPL") and M/s. Equitas Holdings Limited".

Therefore, pursuant to the acquisition of 2,49,99,999 equity shares (99.62% stake) by the company from Equitas Holdings Limited, and balance 96,000 equity shares (0.38% stake) from an Individual shareholder Mr. MVP Mohan Sharma, M/s. Equitas Technologies Private Limited ("ETPL") has become Wholly-Owned Subsidiary of the Company i.e. M/s. Goldstone Technologies Limited.

The acquisition will help the Company in its foray into the e-commerce and fintech space as Equitas Technologies Limited ("ETPL") (popularly known as "Wow trucks") is an existing aggregator of trucks/logistics provider having substantial presence in Southern India region with 30,000 plus registered users. Post this acquisition, the Company is planning to introduce electric vehicle fleet into the portal and also providing finance solutions for the fleet owners through tie ups with NBFCs/Financing organizations under one umbrella.

Shares of Goldstone Technologies Limited was last trading in BSE at Rs. 44.50 as compared to the previous close of Rs. 44.70. The total number of shares traded during the day was 1988 in over 47 trades.

The stock hit an intraday high of Rs. 45.60 and intraday low of 43.90. The net turnover during the day was Rs. 88979.00.

Source : Equity Bulls

Keywords

GoldstoneTechnologies INE805A01014 Acquisition EquitasTechnologies WowTrucks