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| Exchange Received Time 20/08/2019 11:36:41 Exchange Disseminated Time 20/08/2019 11:36:45 Time Taken 00:00:04 | Pursuant to the provisions of Regulation 30(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') read together with Para A of Part A of Schedule III of the Listing Regulations, we hereby inform you that the Company has signed a 'Share Subscription, Share Purchase and Shareholders' Agreement' with Ideal Finance Limited (Sri Lanka) ['Ideal Finance'] and its existing Shareholders and has agreed to subscribe/acquire up to 58.20% of the Equity Share Capital of Ideal Finance, in one or more tranches, for an amount not exceeding LKR 200.30 crores. Upon acquisition of the above stake, Ideal Finance will become a subsidiary of the Company.
Enclosed please find a Press Release issued in this regard.
The details as required under the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 are given in 'Annexure A' to this letter.
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