GEM Enviro Management Limited has entered into a Share Subscription Agreement to acquire a 75% stake in Novuscom Neo Private Limited. The company will acquire 30,000 Equity Shares and 2,70,000 Compulsorily Convertible Preference Shares (CCPS) for a total consideration of ₹30,00,000. This strategic acquisition, effective from September 16, 2026, will make Novuscom Neo Private Limited a subsidiary of GEM Enviro Management.
GEM Enviro Management Secures Majority Stake in Novuscom Neo Private Limited
GEM Enviro Management Limited announced on September 16, 2026, its entry into a Share Subscription Agreement with Novuscom Neo Private Limited. This agreement marks a significant strategic move for GEM Enviro Management, as it will acquire a controlling stake of 75% in Novuscom Neo Private Limited, thereby making it a subsidiary of the company.
Acquisition Details and Consideration
Under the terms of the agreement, GEM Enviro Management will acquire 30,000 Equity Shares and 2,70,000 0.001% Compulsorily Convertible Preference Shares (CCPS). The face value of each equity share and CCPS is Rs. 10/-. The total consideration for this acquisition is fixed at ₹30,00,000 (Rupees Thirty Lakhs only). The transaction is set to bolster GEM Enviro Management’s share capital and operational footprint.
Key Terms and Rights
The Share Subscription Agreement grants GEM Enviro Management significant rights. These include the entitlement to nominate up to three Directors on the Board of Novuscom. Furthermore, the company will hold pre-emptive rights on any future issuance of Equity Securities and the right of first offer on the transfer of shares by Novuscom’s Promoters. Tag-along rights are also specified within the agreement, ensuring alignment of interests.
Transaction Nature
The transaction has been confirmed as not a Related Party Transaction. Novuscom Neo Private Limited operates in the sector related to the company’s business, and the acquisition is expected to be completed and finalized, with Novuscom subsequently becoming a subsidiary.
Source: BSE
