Vertoz to Acquire Tavento Labs Inc. for ₹101 Crore via Preferential Issue
Vertoz Limited approved acquiring Tavento Labs Inc. for ₹101 Crore. The acquisition will be funded by issuing 2.29 Crore shares at ₹44 each, with the balance in cash. Tavento will become a wholly-owned subsidiary. The company also approved increasing authorized share capital and announced its 15th AGM on September 29, 2026.
The acquisition of a company and a significant preferential issue of shares are material events that are expected to have a substantial impact on Vertoz Limited's business operations, financial structure, and market position.
The acquisition of Tavento Labs Inc. and the associated preferential issue are strategic moves aimed at expanding Vertoz's business capabilities and market presence, which is viewed positively.
Vertoz Limited announced a significant strategic move following its Board Meeting on September 1, 2026, approving the acquisition of 100% of the equity share capital of Tavento Labs Inc. for an aggregate consideration of up to ₹101 Crore. This acquisition is intended to expand Vertoz's presence in the digital technology and financial technology ecosystem by leveraging Tavento's cybersecurity and digital trust capabilities.
The acquisition will be substantially discharged through a preferential issue of equity shares to Tavento's existing shareholders. Vertoz plans to issue and allot 2,29,54,000 equity shares at an issue price of ₹44 per share, aggregating to ₹100.99 Crore. The remaining consideration will be paid in cash. Following the acquisition, Tavento Labs Inc. will become a wholly owned subsidiary of Vertoz Limited.
In conjunction with this acquisition, the Board also approved an increase in the Company's Authorised Share Capital from ₹100 Crore to ₹122.95 Crore. Furthermore, the Notice of the 15th Annual General Meeting (AGM) was approved, scheduled for September 29, 2026, at 04:00 p.m. through Video Conferencing. The AGM will include resolutions related to these proposals, including the preferential issue and the increase in authorized share capital.
A plain-language summary of a public exchange filing by Vertoz Limited. Read the original for the full detail.