Melstar Information Technologies Limited — Important, 21-12-2024: General Updates

Melstar Information Technologies Limited has secured in-principle approval for the acquisition of a 51% stake in Plexus Aviation Services Private Limited for up to ₹3 Cr in cash. Plexus, incorporated in 2022, generated turnover of ₹13.64 Cr and ₹15.37 Cr in FY 2024 and FY 2023, respectively. This acquisition will provide Melstar immediate access to a platform in the aviation sector, along with an experienced workforce, enhancing its operational expertise. The strategic move aims to accelerate growth and strengthen market position within a lucrative industry, particularly following Plexus's recent achievement of obtaining a Flight Clearing Agency License from the DGCA. The deal is expected to be finalized by March 2025, suggesting positive prospects for Melstar as it enters a sector characterized by low competition and ongoing demand.