Integrated Personnel Services Limited has announced the completion of its acquisition of Informatic Connecting Tech Private Limited (ICTPL), acquiring an 81.17% equity stake comprising 8,455 equity shares of Rs. 10/- each. The Board of Directors approved the transaction at its meeting held on May 5, 2026, which commenced at 5:00 PM IST and concluded at 6:10 PM IST. The acquisition was executed through a share swap agreement under the Share Purchase and Share Subscription Agreement (SPSSA), originally intimated on July 17, 2025. A balance payment of Rs. 1,78,91,040/- shall be made in cash to the shareholders of ICTPL.

About the Acquired Entity

ICTPL is a private limited company incorporated on October 3, 2013, with its registered office at 14, Whispering Palms Shopping Center, Lokhandwala Complex, Kandivali East, Mumbai – 400101, Maharashtra, India. The company is engaged in software design, development, customization, implementation, maintenance, testing, and benchmarking, and also provides internet and web-based applications, services, and solutions. The following table outlines ICTPL's turnover history:

ICTPL has a presence in India and globally. No governmental or regulatory approvals were required for the acquisition.

Strategic Rationale

Through this acquisition, Integrated Personnel Services Limited aims to establish a strong presence in the software design, development, customization, and implementation of Human Resource Management Systems (HRMS). The strategic intent is to empower businesses through an innovative Software-as-a-Service (SaaS) platform that enhances employee engagement and optimizes operational efficiency. The total consideration for the acquisition of ICTPL was reported at Rs. 7,71,12,000/-.

Preferential Allotment — Non-Cash Consideration (Promoter Group)

Pursuant to the SPSSA, the Board approved the allotment of 8,03,250 equity shares of face value Rs. 10/- each at an issue price of Rs. 96/- per share on a preferential basis to the shareholders of ICTPL, who form part of the Promoter Group, as non-cash consideration. The allotment details are as follows:

Preferential Allotment — Cash Consideration (Non-Promoter Public Category)

The Board also approved the allotment of 8,03,250 equity shares of face value Rs. 10/- each at an issue price of Rs. 96/- per share on a preferential basis for cash consideration to persons belonging to the Non-Promoter Public Category. The details of this allotment are as follows:

Both allotments were made in compliance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the provisions of the Companies Act, 2013, along with applicable rules made thereunder. The disclosures were made in accordance with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2//3762/2026 dated January 30, 2026.