Virinchi Limited (BSE:532372) agreed to acquire Shri Shri Resorts Pvt. Ltd. for approximately INR 1.54 billion on July 25, 2022. There is no cash consideration. The Share Exchange Ratio is 866:100, 866 (Eight Hundred and Sixty six) equity shares of VlRlNCHl of face value of INR 10 each fully paid up for every 100 (One Hundred) equity shares of Shri Shri Resorts Private Limited. As on November 23, 2022. The deal terms were revised with the new Share Exchange Ratio being 74:10, Where 74 equity shares of VlRlNCHl will be offered for every 10 equity shares of Shri Shri Resorts Private Limited. Shri Shri Resorts net worth as on March 31, 2022 is INR 13.430 million and turnover is INR 0.8023 million.The Scheme is subject to the approval of the requisite majority of the members and/or the creditors of the Company and necessary no-objection from the Stock Exchange. The Scheme is approved by the Board of Virinchi. The transaction is still subject to Statutory approval and approval from stock exchange.

Virinchi Limited (BSE:532372) cancelled the acquisition of Shri Shri Resorts Pvt. Ltd. on September 22, 2023.