GSS Infotech Limited (BSE:532951) agreed to acquire Polimeraas Limited on December 6, 2021. The consideration will be paid with a combination of stock and cash. The consideration comprises (i) 92,20,000 Equity shares of GSS to Shareholders of proposed Private Limited and (ii) Redeemable Preference Shares to the shareholders of proposed Private Limited Company for the balance consideration. The transaction is subject to the approval of the shareholders, stock exchanges and regulatory authorities. The transaction has been approved by the board of directors of GSS Infotech. GSS will invest an amount of INR 250 million into Polimeraas Limited, for subscribing to 10,00,000 equity shares of Polimeraas Ltd having a face value of INR 10/- each, at a premium of INR 240 each. Turnover of the Polimeraas Limited for FY 2020-21 was INR 2510 million. As of February 6, 2023, this acquisition got received the No Observation Certificate from the The National Stock Exchange of India Limited and The BSE Limited. Prashant Jain of Samisti Legal LLP acted as legal due diligence provider to GSS Infotech Limited.

GSS Infotech Limited (BSE:532951) completed the acquisition of Polimeraas Limited for INR 2.5 billion on May 4, 2022.