Magellanic Cloud allots 46.72 lakh equity shares for acquisition of 100% stake in Finoux Solutions

Magellanic Cloud has allotted 46,72,000 equity shares of face value of Rs 2 each at an issue price of Rs 75 per share aggregating to Rs 35.04 crore on preferential allotment basis through private placement to the Promoters of Finoux Solutions (FSPL) for consideration other than cash i.e., in lieu of acquisition of their 100% stake in equity shares in FSPL through swapping of equity shares of the Company.

Consequent to the aforesaid allotment of 46,72,000 equity shares; the paid-up equity capital of the Company has increased from Rs. 116,87,90,240/- consisting of 58,43,95,120 equity shares of Rs. 2/- each to Rs. 117,81,34,240/- consisting of 58,90,67,120 equity Shares of Rs. 2/- each.

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