PFL Infotech Ltd — Updates, 01-01-1970: Company Update

Mr. Parma Nand Chand has announced a board meeting on April 16, 2025, appointing himself and Kirti Chand as additional directors of PFL Infotech Limited. He has entered into a Share Purchase Agreement to acquire 4,85,730 shares (6.5% voting capital) from existing promoters for ₹9.71 lakh at ₹2 per share, triggering a mandatory open offer to acquire up to 19,44,306 shares (26% voting capital) at the same price, aggregating ₹38.89 lakh. Post-offer, his holding will rise to 32.5%. The offer is unconditional, with no competing bids, and funds have been escrowed. The company’s shares were previously suspended but trading restrictions were lifted recently. The target company reported losses over the past three years with a book value per share declining to ₹1.09 in FY25. The acquirer plans to continue existing business and may diversify in future. Public shareholders can tender shares during July 18-31, 2025, via a stock exchange mechanism. Tax implications vary by shareholder status, and shareholders are advised to consult tax advisors.