The company will take a 10 percent stake in the new venture for Rs 10 lakh and invest an additional Rs 35 crore through compulsorily convertible debentures (CCDs). The remaining 90% will be held by Rohan Verma. The CCDs will be converted into equity either after 10 years or at a 25% discount to any third-party valuation of the new company whichever is earlier, it said.
from Latest Telecom News | Latest Telecom Industry News, Information and Update: ET Telecom : ETTelecom.com https://ift.tt/y1Wu0gA
Monday, December 2, 2024
MapMyIndia to spin off B2C unit; CEO Rohan Verma to head new venture
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