Anka India Ltd has decided to buy a 100% share in Futech Internet, its first major foray into the digital technology space. The move is part of Anka India's strategy to diversify its portfolio and ride the expanding digital economy.
Major points:
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The deal will grant Anka India complete ownership of Futech Internet's assets and operations
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Futech Internet has probably got business in internet services, web solutions, or internet marketing
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This acquisition marks a strategic shift for Anka India, which was historically renowned for its consumer business
The takeover is seen as strengthening the technology capabilities of Anka India as well as enabling new income sources in the online space. It also places the company well-equipped to serve better the changing requirements of its consumers in an ever-more digital business environment.
Financial terms of the transaction remain undisclosed, but the transaction is subject to regular closing conditions and regulatory approvals.
Source: Anka India Ltd filing with BSE, Economic Times, March 13, 2025