Acquire a substantial stake of up to 99.62% along with its co-investors in the equity share capital of Equitas Technologies Private Limited (“ETPL”)
The Board of Goldstone Technologies Limited (“GTL”) in their meeting held on 16th May 2022 approved the resolution to acquire a substantial stake of up to 99.62% along with its co-investors in the equity share capital of Equitas Technologies Private Limited (“ETPL”). Consequent to the acquisition of up to 99.62% equity stake by the GTL, ETPL will become a Subsidiary Company of Goldstone Technologies Limited. Presently, Equitas Holdings Limited (“EHL”) holds 2,50,00,000 (99.60%) equity shares of ETPL. Equitas Holdings Limited is the promoter company of Equitas Small Finance Bank. The acquisition will help GTL to foray into the e-commerce and fintech space as Equitas Technologies Limited (popularly known as Wow trucks) is an existing aggregator of trucks/logistics provider having a substantial presence in the Southern India region with 30,000 plus registered users. GTL is also planning to introduce an electric vehicle fleet on the wow truck portal and provide financial solutions for the fleet owners through tie-ups with NBFCs/Financing organizations under one umbrella.