Share India invests ₹28 crore in capital services subsidiary

Share India Securities Limited's finance committee approved an additional investment of ₹27,99,99,990 in Share India Capital Services Private Limited (SICSPL). This investment involves the subscription to 81,63,265 equity shares of ₹10 each at a premium of ₹24.30 per share, totaling ₹34.30 per share. The transaction, conducted on a rights basis, is expected to conclude within seven working days.

SICSPL, a financial services player incorporated in January 2016, will remain a wholly-owned subsidiary. The capital infusion aims to enhance SICSPL's financial strength, support business expansion, and align with Share India's long-term strategy for sustained growth. SICSPL's turnover for FY 2024-25 was ₹23.03 crore.

The transaction is classified as a related party transaction under the Companies Act, 2013, with Sachin Gupta and Rachit Gupta, directors of SICSPL, also serving as director and promoter/promoter group member, respectively. However, the company states that the transaction is undertaken in the ordinary course of business and on an arm's length basis.