M/s Image Gravures entered into a memorandum of understanding to acquire Plant & Machineries and Inventories from Lippi Systems Limited (BSE:526604) for INR 94.5 million on October 26, 2021. The transaction is subject to approval of offer by acquirer shareholders. The transaction is also subject to requisite approvals/consents as may be necessary from the bankers of the Company or from any statutory /regulatory authorities and subject to such terms and conditions as may be imposed by them.