Penny Stock Under Rs 25: This Telecom Company to Acquire Class B Shares in Spice Money Limited; Stock Price Jumped by 6 Per cent to Intraday High!
The company has a market cap of Rs 550 crore with a PE of 74.9x and an ROCE of 10.7 per cent.
DiGiSPICE Technologies Limited has announced the acquisition of Class B shares in Spice Money Limited (SML), a material subsidiary, from Sood Infomatics LLP (SIL). The agreement was executed on February 20, 2025, at 22:06 IST, and the transaction is expected to be completed by March 31, 2025.
As per the filing with the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, DiGiSPICE Technologies will acquire 8,69,030 Class B shares, representing 1.94 per cent of SML’s total shareholding, for a cash consideration of Rs 4.5 crore. This acquisition will provide an exit to SIL while consolidating DiGiSPICE Technologies’ stake in SML.
Spice Money Limited, incorporated on April 4, 2000, operates in the tech-enabled hyperlocal payments industry, offering services such as cash deposits, withdrawals, Aadhaar-enabled payment services, airtime recharge, POS services, cash management services, and UPI-based transactions. The company had a turnover of Rs 439.43 crore and a net profit of Rs 13.06 crore for the financial year ended March 31, 2024.
The acquisition does not fall under the category of a related party transaction, and no regulatory approvals are required for its completion. The move aligns with DiGiSPICE Technologies' strategy to strengthen its presence in the digital financial services sector.
About the Company
DiGiSPICE Technologies Ltd. is a telecom company involved in trading mobile handsets and accessories. It operates in information and communication technology, offering value-added services to telecom operators and developing telecom-related software. The company functions across Telco and Enterprise segments. Established on December 23, 1986, it is headquartered in Noida, India.
The company has a market cap of Rs 550 crore with a PE of 74.9x and an ROCE of 10.7 per cent. Investors should keep an eye on this Small-Cap stock penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.