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Moneyboxx Capital completes acquisition of stake in Dhanuka Commercial

Moneyboxx Capital Pvt. Ltd. completed the acquisition of a 71.21% stake in India-based Dhanuka Commercial Ltd.

Moneyboxx acquired a 64.49% stake in Dhanuka Commercial following the purchase of 10,797,879 equity shares for 46.4 million Indian rupees under a share purchase agreement with a group of selling shareholders. The company then acquired an additional 6.72% of Dhanuka Commercial through an open offer, under which 1,125,580 shares were tendered.

The offer opened Sept. 7 and closed Sept. 24. The last date of payment of consideration was Oct. 8.

The announcement came after Moneyboxx in June said it would acquire up to 90.49% of Dhanuka Commercial.

As of Oct. 10, US$1 was equivalent to 74.25 Indian rupees.