Monday, April 30, 2018

Why @PiramalGroup paid Rs.48 cr, to @PiyushGoyal 's Flashnet Info Solutions valued at Rs.12.5 cr

Piramal Estates Private Limited (“PEPL”) purchased Flashnet Info Solutions Private Limited (“Flashnet”), a firm owned by Mr. Piyush Goyal and Ms. Seema Goyal, in July 2014.
The face value of each share is Rs 10. Going by Piramal Estates’s filings, Flashnet was bought for Rs 48 crore, which works out to approximately Rs.9586/- per share. According to Piramal Group the valuation of Flashnet was fixed upon the advice of an “independent chartered accountant”.