EFC (I) (BOM:512008) has acquired 407,897 equity shares, or a 15% stake, in MPF Systems through a preferential allotment under the Corporate Insolvency Resolution Process, the real estate company said in a Monday disclosure with the BSE.
The acquisition, valued at 4.1 million Indian rupees, was completed following the approval of EFC's resolution plan by the Committee of Creditors and the National Company Law Tribunal.
The transaction is expected to conclude within 48 days of the NCLT's approval, according to the disclosure.
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