Richa Info Systems Limited (NSEI:RICHA) agreed to acquire 48.72% stake in Arth Technocrats Private Limited on November 8, 2023. The consideration will be paid by issuing 2.7 million shares of Richa Info Systems for INR 72.25 per equity share for consideration other than cash. As of FY 2022-23, Arth Technocrats reported revenue of INR 7.4 million.

The transaction has been approved by board of directors, and is subject to shareholders of Richa Info Systems and regulatory board. Transaction is expected to completed in the next 3 to 6 months.