The Company has entered into Business Transfer Agreement today to transfer its Omnichannel Technology Division to Arvind Internet Limited (AIL) a wholly owned subsidiary of the Company for a total consideration of Rs. 152.30 crores to be paid by way of issue of shares of AIL. The entire shareholding of Company in AIL shall be transferred to BigFoot Retail Solutions Private Limited (Shiprocket) for a consideration of Rs. 162.90 crores to be paid in cash and equity shares of Shiprocket.
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