Inditrade Business Consultants to acquire Commodities Trading
Inditrade Capital announced that its subsidiary, Inditrade Business Consultants has entered into a share purchase agreement with Edel Commodities, a wholly owned subsidiary of Edelweiss Financial Services, for buying its wholly owned subsidiary, namely, Edel Commodities Trading (ECTL) for a deal size of minimum Rs 13 crore payable in cash and shares equivalent to 9% of the paid up capital of Inditrade Business Consultants.As a results, ECTL along with Edel Commidities Chad SARL and Edel Commidities Nigeria (both subsidiaries of ECTL) will become wholly owned susbidiaries of Inditrade Business Consultants and consequently subsidiaries of the Company. On completion of the transaction, the Company will continue to hold more than 90% shareholding in Inditrade Busincess Consultants.
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