Vertoz Acquires Tavento Labs for ₹101 Crore via Share Swap; Boosts Authorized Capital
Vertoz Limited's Board approved increasing authorized share capital to ₹122.95 Crore. It also approved acquiring 100% of Tavento Labs Inc. for up to ₹101 Crore via preferential share allotment at ₹44 per share. The 15th AGM is scheduled for September 29, 2026.
The acquisition of a company and the significant increase in authorized share capital are material events that will likely have a substantial impact on Vertoz Limited's business and financial structure.
The company is expanding its business through an acquisition and increasing its authorized capital, which are positive developments.
Vertoz Limited announced the outcome of its Board Meeting held on September 1, 2026. The Board approved a proposal to increase the Company's Authorized Share Capital from ₹100 Crore to ₹122.95 Crore.
Furthermore, the Board approved the acquisition of 100% equity share capital of Tavento Labs Inc., a US-based cybersecurity technology company, for an aggregate consideration of up to ₹101 Crore. This acquisition will be substantially discharged through a preferential issue of 2,29,54,000 equity shares of Vertoz Limited at ₹44 per share to Tavento's existing shareholders, based on a share exchange ratio of 1:22,954. The balance amount will be paid in cash. Upon completion, Tavento Labs Inc. will become a wholly-owned subsidiary of Vertoz Limited.
The company also approved the notice for its 15th Annual General Meeting (AGM), scheduled for September 29, 2026, at 4:00 p.m. via Video Conferencing. The AGM will include resolutions for the aforementioned proposals. The Board Meeting commenced at 5:30 p.m. and concluded at 8:30 p.m.
A plain-language summary of a public exchange filing by Vertoz Limited. Read the original for the full detail.