Rose Merc Limited has completed the acquisition of a 30.01% stake in Virtual Gain Technologies Private Limited through a share subscription agreement. The transaction was finalized following an initial intimation filed with the stock exchange on June 01, 2026.
Acquisition Details
- Target Entity: Virtual Gain Technologies Private Limited (CIN: U74999PN2017PTC170913)
- Business: Developing an online market platform for sale, purchase, import, export, digital payments, E-wallet services, Bharat bill payment system services, and other software-based development services
- Industry Classification: Fintech and Technical Service Provider
Financial Considerations
- Subscription Amount: ₹1,00,00,000 (One Crore Rupees)
- Share Price: ₹2,332 per share
- Number of Shares Acquired: 4,288 equity shares
- Stake Acquired: 30.01% of post-issued share capital on a fully diluted basis
Historical Financials of Virtual Gain Technologies (Amount in Rupees)
- FY 2023-24: ₹64,62,816
- FY 2024-25: ₹98,87,703
- FY 2025-26: ₹1,23,75,226
Corporate Governance Impact
Rose Merc has nominated and appointed majority directors on the Board of Directors of Virtual Gain Technologies, making Virtual Gain a board-controlled subsidiary of Rose Merc.
Transaction Characteristics
- Related Party Status: Not a related party transaction
- Promoter Interest: Promoter/Promoter Group/Group Companies have no interest in Virtual Gain Technologies
- Consideration Type: Cash consideration
- Government Approvals: None required
- Completion Timeline: Transaction completed within the time period agreed under definitive agreements
- Country of Operation: India
Strategic Rationale
The acquisition enables Rose Merc to collaborate with Virtual Gain Technologies as a technical service provider and facilitates Rose Merc's entry into the Indian fintech sector for establishing and developing its own operations.
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