Cancels proposed Rs 7.6 crore Clean Max stake purchase

The company and Welspun Corp mutually agreed not to proceed with the proposed acquisition of a 26% stake in Clean Max Dhyuthi Private Limited. The proposed transaction had involved payment of Rs 760 lakhs to Welspun Corp, a promoter group company. The acquisition has now been called off.

An acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.

• Consideration and how it is funded
• Revenue and profit of the target
• Expected completion date