Suyog Telematics Limited — Updates, 31-12-2024: Press Release

Suyog Telematics Limited has signed a Memorandum of Understanding (MoU) to acquire 100% of the equity share capital of Lotus Tele Infra Private Limited for a total consideration of INR 13.5 Crores. The payment structure involves INR 5 Crores at the MoU signing and INR 8.5 Crores upon the signing of the Share Purchase Agreement, with the acquisition expected to close by March 31, 2025. Lotus Tele Infra, which operates 120 telecom sites in the critical Delhi and NCR circles, provides passive infrastructure services to major telecom operators. This acquisition aligns with Suyog Telematics' strategic growth plan, enhancing its service offerings and operational efficiency.

Additionally, the company plans to raise INR 270.75 Crores through a combination of equity warrants and shares, aimed at bolstering its expansion initiatives and infrastructure capabilities. This move is anticipated to deliver substantial long-term value for shareholders, strengthening Suyog's position in the telecom infrastructure market.