7NR Retail Limited announced the successful acquisition of 100% equity stake in Cultureantique Jewellery Private Limited (CJPL) via a share swap. This strategic move, approved by the Board of Directors, positions CJPL as a subsidiary of 7NR Retail. The transaction involved the allotment of 9,00,00,000 equity shares by 7NR Retail to CJPL’s existing shareholders at a face value of ₹10 each, against the purchase consideration of ₹90 crore.
7NR Retail Acquires Cultureantique Jewellery Private Limited
In a significant strategic development, 7NR Retail Limited has completed the acquisition of 100% equity stake in Cultureantique Jewellery Private Limited (CJPL). The Board of Directors of 7NR Retail, in a meeting held on September 10, 2026, approved the allotment of 9,00,00,000 (Nine Crore) Equity Shares of the company. These shares, with a face value of ₹10/- each, were issued on a preferential basis.
Share Swap Transaction Details
The issuance of equity shares served as consideration, other than cash, for the acquisition of 90,00,000 (Ninety Lakh) equity shares of CJPL. This represents the entire paid-up equity share capital of CJPL. The total purchase consideration for this acquisition was valued at ₹90,00,00,000/- (Rupees Ninety Crore Only). Each of CJPL’s sale shares was valued at ₹100/- (Rupees One Hundred Only).
Formation of Subsidiary
As a result of this acquisition, Cultureantique Jewellery Private Limited (CJPL) has now become a subsidiary of 7NR Retail Limited. The acquisition is aimed at diversifying 7NR Retail’s existing business and strengthening its overall operations, with an expectation to support long-term growth objectives and improve efficiencies.
Board Meeting Outcome
The Board of Directors of 7NR Retail Limited held a meeting on September 10, 2026. Key outcomes included the in-principle approval for the issue and allotment of 9,00,00,000 Equity Shares on a preferential basis, and the approval of the allotment itself as part of the share swap for the CJPL acquisition. The meeting commenced at 05:30 p.m. and concluded at 06:30 p.m.
Disclosures and Annexures
The detailed disclosures pertaining to this acquisition, in accordance with Regulation 30 of SEBI (LODR) Regulations, are provided in Annexure A and Annexure B. Annexure I lists the proposed allottees of the equity shares, including individuals and entities such as Maulik Patel, Varcas Decor Private Limited, Arha Online Marketing Private Limited, and Briny Digitalize Private Limited, among others.
Source: BSE
