UTV Software Communications Ltd, which holds 56 per cent of the share capital of Indiagames, has entered into definitive agreements with the company’s founder promoters and employee shareholders to acquire 30.02 per cent of the equity shares for a consideration of Rs 94.56 crore, increasing its stake in Indiagames from 56 per cent to 86.02 per cent when completed.
The company is negotiating with the remaining shareholders of Indiagames to purchase the balance holding to increase its shareholding to 100 per cent.