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Paul Merchants increases stake in Paul Merchants Finance

Paul Merchants has increased its stake in Paul Merchants Finance (PMFPL) on November 29, 2018, from 96.87% to 100% by acquiring further 8,43,517 Equity Shares from its existing shareholder Sat Paul Bansal at a price of Rs 48.81 per Equity Share which includes a premium of Rs 38.81 per Equity Share. Further, Sat Paul Bansal shall hold remaining One Equity Share of PMFPL as nominee of Paul Merchants in order to comply with the requirement of minimum number of Shareholders in the company. The company holds beneficial interest in the said Equity Share, held by Sat Paul Bansal.

Paul Merchants is engaged in international inward remittance, foreign exchange and tours, and travels and air ticketing. The company’s segments include Forex, Western Union, Travel and Others.

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