Company Profile

Safa Systems & Technologies has informed that the exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Quadralyst.

The above information is a part of company’s filings submitted to BSE.

Safa Systems & Technologies has informed that the Board of Directors of the Company at their meeting held on Wednesday, 06th March 2024 at 11:00 am at the registered office of the Company at 46/2631 B, Safa Arcade, Kaniyapilly Road Chakkaraparambu, Ernakulam Kerala - 682028 India, have considered and approved the following matter(s): Appointment of Alingal Pandian Rajeswari as an Internal Auditor of the Company, pursuant to provision of Section 138 of Companies Act, 2013 and rules made thereunder, for the financial year 2023-24, Appointment of Vikas Verma and Associates, Company Secretaries (FRN: P2012DE081400) as Secretarial Auditor of the Company pursuant to provision of Section 204 of Companies Act, 2013 and rules made thereunder for the financial year 2023-24. In compliance with Regulation 30 of SEBI (LODR) Regulation, 2015 read with SEBI Circular No. SEBI/HO/CFDfCFD-PoD-1/P/CIRI2023/123 dated 13th July, 2023 and Master Circular No. SEBI/HO/CFD/PoD2/CIR/PI2023/120 dated 11th July, 2023 additional disclosures have been attached as Annexure A and Annexure B. The meeting of the Board of Directors commenced at 11:00 am and concluded at 12:00 pm.

The above information is a part of company’s filings submitted to BSE.

Safa Systems & Technologies has received approval for the acquisition of 67,70,000 equity shares of Rs 10 each representing 100% paid-up equity share capital of Effective Lifestyle (ELPL) for a total purchase consideration of Rs 9.48 crore and 10,40,000 equity shares of Rs 10 each representing 51% paid-up equity share capital of Kanone Technologies (KTPL) for a total purchase consideration of Rs 7.28 crore.

The Purchase Consideration payable by the company for such purchase of 100% of ELPL’s and 51% of KTPL’s shall be discharged by way of issue and allotment of 1,19,70,000 equity shares of the Company having face value of Rs 10 each to the Shareholders of ELPL and KTPL at a price of Rs 14 per equity share, on a preferential basis. The Board of Directors of the Company, at its meeting held on February 17, 2024, approved the same. 

The company is engaged in the business of distributorship of consumer durable products like Mobile phones, Mobile phone accessories, Tablets, LED TVs, Home appliances and wearable devises of various brands like Xiaomi, OPPO, TECNO, Micromax, One Plus in Kerala.