Reference to the disclosure dated June 01, 2018 under Regulation 30 of the SEBI LODR it was informed that MPS Limited through its WOS Company, MPS Interactive Systems Limited, has completed the acquisition of Tata Interactive Systems.
MPS Interactive Systems Limited was incorporated as a WOS Company on May 10, 2018 to undertake the business of e-learning services and products in India and in the overseas market. As such the WOS Company is engaged in the business of e-learning services and products in India and in the overseas market.
MPS Limited has now invested in the Right issue of MPS Interactive Systems Limited and has allotted Equity and Preference shares at par aggregating to 43,99,00,000/-
INR 21,99,00,000/- (2,19,90,000 Equity Shares of INR 10 /- each),
INR 22,00,00,000/- (2,20,00,000 8% Non-Cumulative Redeemable Preference Shares of 10/- each).
Post the allotment of shares, MPS Interactive Systems Limited has now become Wholly-Owned Material Subsidiary of MPS Limited.
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