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| Exchange Received Time 15/01/2018 18:02:14 Exchange Disseminated Time 15/01/2018 18:02:21 Time Taken 00:00:07 | This is further to our letter dated 2 August 2017, informing you that the Company has entered into a Subscription Agreement with One MobiKwik Systems Private Limited ('MobiKwik') for acquisition of 10 Equity shares and 271,050 compulsorily convertible cumulative preference shares (CCCPS) and that post conversion of CCCPS, the Company would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis and that the value of the transaction envisaged is approximately Rs. 225 Crores and the conclusion of the transaction is subject to fulfillment of certain conditions in due course of time.
We would like to inform you that due to the change in the conversion price of CCCPS pursuant to the terms and conditions of the Amended and Restated Shareholders Agreement dated 31 July 2017, the Company would now hold approximately 12.60% of equity in MobiKwik on a fully diluted basis post conversion of CCCPS, as and when it happens.
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