Richa Info Systems Limited (NSEI:RICHA) agreed to acquire 19% stake in Alekh Advisory Pvt Ltd on November 8, 2023. The consideration will be paid by issuing 2.96 million shares of Richa Info Systems for INR 72.25 per equity share for consideration other than cash. Upon completion of the transaction, Richa Info Systems Limited shall hold 19% of control in Alekh Advisory Pvt Ltd and that, Alekh Advisory Pvt Ltd shall held 9.89% voting rights Richa Info Systems Limited.

As of FY 2022-23, Alekh Advisory Pvt Ltd reported revenue of INR 0.94 million. The transaction has been approved by board of directors, and is subject to shareholders of Richa Info Systems and regulatory board. Transaction is expected to completed in the next 3 to 6 months.