Spice Mobility buys 22.54% equity stake in Sunstone Eduversity
Consequent to the acquisition, Sunstone Eduversity Private Limited has become an associate company of SDL, the company statement said.
Telecom company Spice Mobility on Friday acquired 22.54% equity stake in Greater Noida-based Sunstone Eduversity for an undisclosed amount.
Spice Digital Limited (SDL), a subsidiary of Spice Mobility, has acquired 22.54% equity stake in Sunstone Eduversity Private Limited, a company incorporated for the purpose of engaging in the line of education business, Spice Mobility said in a regulatory filing.
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Consequent to the acquisition, Sunstone Eduversity Private Limited has become an associate company of SDL, it added.
Both Spice Mobility and Sunstone Eduversity are chaired by Dilip Modi. He was appointed Executive Chairman of Spice Mobility board on November 30, 2015. Sunstone Eduversity website showed his designation as Chairman, Executive Board.
The shares of Spice Mobility were up 1.46% at Rs 20.8 a piece on the BSE on Friday.