Celica Developers Private Limited agreed to acquire additional 48.89% stake in Jaguar Advisory Services Private Limited from Poonawalla Fincorp Limited for approximately INR 1 billion.

Celica Developers Private Limited agreed to acquire additional 48.89% stake in Jaguar Advisory Services Private Limited from Poonawalla Fincorp Limited (NSEI:POONAWALLA) for approximately INR 1 billion on November 2, 2021. As per the transaction, Celica Developers Private Limited will acquire 11000 shares of Jaguar Advisory Services Private Limited for INR 90,602.3164/- per equity share. The proposed transaction is subject to the approval of the minority shareholders of Poonawalla Fincorp Limited, Regulatory approvals including from IRDAI and the Competition Commission of India.

As of December 14, 2021, Poonawalla Fincorp Limited shareholders approved the transaction. The transaction has been approved by the Board of Directors of Poonawalla Fincorp.