Vertoz to acquire Tavento Labs via ₹101-crore share-swap deal, boost authorised capital
Vertoz Ltd ( (IN:VERTOZ) ) has issued an update.
Vertoz Limited’s board has approved an increase in authorised share capital from ₹100 crore to approximately ₹122.95 crore, expanding its capacity to issue new equity shares subject to shareholder approval. The company has also cleared the notice for its 15th Annual General Meeting, to be held via video conferencing on 29 September, where resolutions related to these capital changes will be tabled.
The board has sanctioned the acquisition of 100% of Tavento Labs Inc. for up to ₹101 crore, to be paid largely through a share swap that will make Tavento a wholly owned subsidiary once definitive agreements and approvals are in place. To fund the deal, Vertoz plans a preferential issue of up to 2.2954 crore equity shares at ₹44 each to Tavento’s existing investors, a move that will dilute existing shareholders but is aimed at bolstering Vertoz’s technology capabilities and scale through strategic integration.
More about Vertoz Ltd
Vertoz Limited is an India-listed company operating in the digital advertising and marketing technology space, offering programmatic advertising and related technology solutions to brands and publishers. The company focuses on leveraging technology-driven platforms to enhance ad monetisation and audience targeting across digital channels in domestic and international markets.
Average Trading Volume: 80,955
Technical Sentiment Signal: Sell
Current Market Cap: 3.35B INR
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