VLS Finance acquires additional stake in VLS Securities
2nd Sep 2021

VLS Finance has acquired one lakh equity shares of Rs 10 each of VLS Securities, a subsidiary of the company, from VLS Capital, a constituent of Promoter Group of the Company on September 01, 2021, for an outlay of about Rs 4.93 crore. The said acquisition was at arm's length with the aforesaid related party, since the consideration was arrived at on the basis of Independent Valuer's report. Besides, it is not a material transaction as per applicable regulations and materiality policy of the Company.

The Company along with 6 other nominees, now holds 100% share capital of VLS Securities and therefore, the status of VLS Securities has changed to Wholly Owned Subsidiary of the Company from Subsidiary of the Company.

VLS Finance the flagship company in the country with a strong net worth, and has carved for itself an enviable niche in the fiercely competitive financial sector in India.