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Moneyboxx Capital to acquire controlling stake in Dhanuka Commercial

Moneyboxx Capital Pvt. Ltd. signed a share purchase agreement to acquire up to 90.49% of Dhanuka Commercial Ltd.

The acquirer signed a share purchase agreement with a group of selling shareholders for a 64.49% stake in Dhanuka Commercial through the acquisition of 10,797,879 equity shares for an aggregate price of 46.4 million Indian rupees. The selling shareholders include Talwaria Polymers Pvt. Ltd. and CMA Infin Consultants Pvt. Ltd.

Further, Moneyboxx announced an open offer to public shareholders, excluding the parties to the share purchase agreement, to acquire up to 4,353,300 shares at 6 rupees apiece for a 26% stake.

As of June 14, US$1 was equivalent to 67.64 Indian rupees.