Aileensoul Technologies Private Limited agreed to acquire City Pulse Multiplex Limited from a group of sellers for INR 870 million in a reverse merger transaction.

Aileensoul Technologies Private Limited agreed to acquire City Pulse Multiplex Limited (BSE:542727) from a group of sellers for INR 870 million in a reverse merger transaction on February 29, 2024. The consideration shall be of swap of shares in the ratio of 1:735, wherein City Pulse Multiplex Limited will issue 73.5 million shares to the shareholders of Aileensoul Technologies. The Board of Directors of City Pulse Multiplex Limited has approved the transaction.

The transaction is expected to be executed on or before June 30, 2024.