Mumbai, April 14 -- Erawat Vegcap, incorporated on 7 April 2022, currently has two object clauses in its Memorandum of Association but has not commenced any business operations to date. The company is positioned in the plastic products & packaging and pharmaceutical & healthcare sectors. This acquisition is seen as a strategic move, aligning with Comsyn India's broader goals of business expansion, diversification, and value creation.

Under the terms of the agreement, Comsyn India will acquire 9,50,000 equity shares of Erawat Vegcap, each with a face value of Rs 10, at a price of Rs 52.60 per share, totaling a transaction value of Rs 4,99,70,000.

An initial payment of Rs 1,24,92,500 (25% of the total consideration) will be made upfront, ...