Excellence Creative to Acquire 25% Stake in Pro Fin Capital Services

Excellence Creative, a Hong Kong-based firm, plans to acquire a 25% equity share in Pro Fin Capital Services at Rs 22 per share. Pro Fin's Board of Directors has approved the proposal, pending shareholder approval for bonus shares. The firm will proceed with due diligence and regulatory assessments.

Excellence Creative, a company operating out of Hong Kong, is set to acquire a 25% stake in Indian firm Pro Fin Capital Services, pricing the shares at Rs 22 each. This strategic move was greenlit by the Board of Directors of Pro Fin, a key player in financial and capital market services.

Pro Fin's board has sanctioned an increase in the company's authorized share capital to support a proposed bonus share issuance, contingent upon shareholder approval. An extraordinary general meeting is scheduled for the following month to deliberate this development.

The transaction agreement, though endorsed by the board on November 26th, remains non-binding, with no definitive decisions taken concerning its structure or timeline. Abhay Gupta, a director at Pro Fin, confirmed that further due diligence and regulatory advice will shape the final agreement.

(With inputs from agencies.)