Deal Snapshot
TANLA SOLUTIONS CLOSES ACQUISITION OF KARIX MOBILE
Monday 15 April 2019

India-based cloud communication providers Tanla Solutions Ltd (NSE: TANLA) (BSE: 532790) has completed the acquisition of 100% shareholding of Karix Mobile Pvt Ltd and its wholly owned subsidiary Unicel Technologies Pvt Ltd from Banyan Investments Ltd, a company owned by funds affiliated with GSO Capital Partners L.P., the company said.
Consideration for the acquisition was approximately Rs.340 Crores (USD 49.097m), comprising Rs.112 Crores in cash; Preferential Allotment to Banyan of 2.20 Crores Equity Shares in Tanla at a Face Value of Re.1 only, at a rate of INR 56.79 per share totaling Rs.125 Crores; and Tanla assuming the debt on Karix's book of Rs.103 Crores.


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Details
Date Published: 15/04/2019
Target: Karix Mobile Pvt, Unicel Technologies
Country: India
Deal Size: 49.097m (USD)
Sector: Telecommunications
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor: Banyan Investments Ltd
Buyer: Tanla Solutions
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