63 Moons Sells Residual Stake in NTT Data Payment Services for USD 18.43 Mn
63 moons technologies limited completed the sale of its residual stake in NTT Data Payment Services India Private Limited to NTT Data Group Corporation. The company received USD 18.43 million (₹153.5 crore) for the stake. The net proceeds have been deposited as security with the Competent Authority NSEL MPID.
The sale of a significant stake in an associate company and the subsequent deposit of proceeds as security has a material impact on the company's asset structure and future liquidity, warranting a medium impact assessment.
The transaction represents a divestment of a residual stake, and while it involves a financial transaction, the net proceeds are being held as security, indicating a neutral financial impact in the short term.
63 moons technologies limited announced the completion of the acquisition of its residual stake in NTT Data Payment Services India Private Limited (formerly ATOM Technologies Limited) by NTT Data Group Corporation. The company has received the INR equivalent of USD 18,432,925 from NTT Data Group Corporation. Following the transaction, 21,00,86,610 equity shares previously held by 63 moons in NTT Data Payment Services India Private Limited have been transferred to NTT Data Group Corporation.
As per the directions of the MPID Court, the net consideration amount, after deducting applicable taxes, has been deposited by 63 moons technologies limited into the designated bank account of the Competent Authority NSEL MPID, serving as security in lieu of attachment. With this share sale, NTT Data Payment Services India Private Limited is no longer an associate of 63 moons technologies limited.
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63 moons technologies limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by 63 moons technologies limited. Read the original for the full detail.