The board of MPF Systems has taken on record the transfer of 18,87,697 shares held by promoter Wilo Se (seller), representing 55.48 per cent of the equity paid-up share capital of the company to Royal Nirman Pvt Ltd ( acquirer).
This follows the share purchase agreement between the two parties on July 1, 2014, resulting in change of control of the company.
Following this sale of shares and open offer for acquisition of shares held by public shareholders of the company, the acquirer will hold the controlling stake in the company, MPF Systems said in a communication to the stock exchanges.