Intellivate Capital Ventures Limited (BSE:506134) agreed to acquire 95% stake in Bouonniere Hospitality Private Limited for INR 490 million on May 30, 2022. Intellivate Capital will acquire 6.185051 million shares of Bouonniere Hospitality for INR 88 million. The total number of shares outstanding is 6.472989 million and 6.185051 million equity shares sought and 9.193889 million shares of Intellivate Capital issued. The number of Redeemable NonConvertible Cumulative Preference shares of 33.2919 million of Intellivate Capital issued at a price of INR 9.5. Boutonniere Hospitality reported turnover of INR 1.9 million during the year ended March 2022. The deal is subject to approval of shareholders of Intellivate Capital Ventures Limited and applicable regulatory authorities. The Board of Directors of Intellivate Capital Ventures Limited has approved the deal on May 30, 2022. The deal is expected to complete within six months.

Intellivate Capital Ventures Limited (BSE:506134) completed the acquisition of 95% stake in Bouonniere Hospitality Private Limited on November 7, 2022.