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| Exchange Received Time 29/12/2017 16:25:15 Exchange Disseminated Time 29/12/2017 16:25:20 Time Taken 00:00:05 | Sub: Acquisition of stake in a 'P2P Lending Platform Company' i.e. Luharia Technologies Private Limited - Intimation under Regulation 30 of Listing Regulations, 2015
Dear Sir(s),
This is to inform you that Spice Digital Limited (SDL), a subsidiary of the Company, has entered into an agreement with a 'P2P Lending Platform Company' i.e. Luharia Technologies Private Limited (LTPL), for making strategic investment in LTPL. SDL will invest in 0.1% Compulsorily Convertible Preference Shares(CCPS) of LTPL which will result in a minimum shareholding of 30% of the issued and paid up Equity Share Capital of LTPL upon conversion of the said CCPS in Equity shares of LTPL.
As required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the requisite information is enclosed herewith as Annexure 'A'.
A copy of the Press Release being issued by the Company in this connection is also enclosed herewith as Annexure 'B'.
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