Nihar Data International board approves 51% stake acquisition in Life 108

Nihar Data International Restricted, a BSE-listed e-commerce firm, has introduced that it will purchase a majority stake (51 per cent) or extra of the fairness stake in healthcare startup agency Life 108 Healthcare Personal Restricted.

The corporate’s board of administrators authorized the plan to amass the stake in Life108 on Tuesday.

The 2-year-old goal firm offers in varied merchandise associated to healthcare and way of life. The corporate sells its merchandise by way of retail, wholesale, and business-to-business e-commerce channels.

“It’s planning to enter into manufacturing of well being dietary supplements like nutraceuticals beneath the model ‘Life108’,” a Nihar Data International mentioned in an announcement on Tuesday.

Nihar Data International’s shares touched the higher circuit of ₹8.76 on Tuesday, up by 20 per cent over its earlier shut.

Associated celebration transaction

“The mentioned acquisition will probably be a related-party transaction. Divyesh Nihar Boda, a promoter and anaging Director of Nihar Data International Restricted is a Director and shareholder in Life 108 Healthcare Personal. It’s executed at an ‘arm’s size’,” the assertion mentioned.

The corporate registered a turnover of ₹5.30 crore in 2022-23.