The company's board has acknowledged the execution of a Share Purchase Agreement.

Under this agreement, the current promoter shareholders are selling 63,65,924 (6.37 Cr) equity shares, representing 70.66% of the company's capital, to a group of acquirers for ₹23.85 per share.

The total consideration for this block of shares is ₹15.18 Cr.

This transaction will lead to a change in the company's control and management, with the acquirers becoming the new promoters.

Subsequently, the acquirers will make a mandatory open offer for up to 26% of the company's equity share capital to public shareholders.

This signifies a major ownership shift for the company.