Tanla Solutions drops 5% on acquisition of Karix Mobile

Shares of Tanla Solutions dropped 5 percent intraday on April 11 after the company completed the acquisition of Karix Mobile Private Limited for a consideration of Rs 340 crore.

The company in its BSE release said that the consideration comprises of Rs 112 crore in cash, Rs 125 crore equity shares of the company to Banyan Investments and payment of Rs 103 crore debt of Karix Mobile.

Post-Acquisition, the shareholdings (on a fully diluted basis) of Tanla would be; Promoters: 31.2 percent, and GSO Capital Partners: 14.6 percent.

At 1448 hrs, Tanla Solutions was quoting Rs 46.05, down 4.95 percent on the BSE.