Jagsonpal Services To Acquire Elanistech Private For ₹10 Crore Cash
Mumbai: Jagsonpal Services Ltd announced on 29 September 2026 that its Board of Directors has approved the acquisition of Elanistech Private Ltd. The transaction involves a total lump-sum purchase consideration of ₹10 crore, to be paid in one or more tranches. Related Party Transaction Elanistech Private is a related party, with Karthik Srinivasan, Chairman, Managing Director and Chief Financial…
On 29 September 2026, Jagsonpal Services Ltd announced it had approved the acquisition of Elanistech Private Ltd for a total of ₹10 crore. Elanistech is a related party, as Karthik Srinivasan, the Chairman, Managing Director, and Chief Financial Officer of Jagsonpal Services, also serves as a director and shareholder in Elanistech. Jagsonpal Services affirmed the transaction was conducted at arm's length.
Elanistech Private Ltd, incorporated in Karnataka on 21 August 2026, specializes in software development for financial services, electronic payments, and other related services. As of 31 March 2026, the company reported nil turnover and a net worth of ₹50.80 lakh.
Jagsonpal Services believes the acquisition is commercially beneficial and will contribute to its primary business activity. The acquisition aims to kickstart revenue generation and align with the company's strategic objectives. The transaction is expected to be completed within three months, though the period may be extended with mutual agreement between both parties. Member approval will be sought, with details to be disclosed separately.
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