Unitech Limited has announced the acquisition of 9,37,500 equity shares in its wholly-owned subsidiary, Unitech Holdings Limited (UHL), through a rights issue. The shares, with a face value of ₹10 each, were acquired at a premium of ₹150 per share, amounting to a total investment of ₹15 Crore.
Unitech Holdings Limited is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) and holds strategically important assets. The acquisition ensures compliance with RBI regulations regarding Net Owned Fund (NOF) requirements. This transaction will maintain Unitech Limited’s 100% ownership of UHL, aligning with the company’s strategic financial goals.
The acquisition is expected to be completed by November 17, 2024.