eClerx Services Limited to acquire 2.0% stake in Personiv Eclipse Inc.

Mergers & acquisitions
Computers - Software

Blacklitt Research28 October 20262 min read

eClerx Services Limited (NSE: ECLERX) said in a filing on 28 Oct 2026 that its board has approved acquiring approx. 2.0% equity in Personiv Eclipse Inc., USA, from eClerx LLC, its wholly owned subsidiary, for US$1,639,121.40 in cash. Personiv Eclipse is a step down subsidiary of the company.

Key highlights

Consideration: US$1,639,121.40 in cash
Stake acquired: approx. 2.0%; approx. 98.0% held through eClerx LLC after the deal
Board approval: 28 Oct 2026
Indicative completion: 1 month
Valuation report dated 28 Oct 2026 by Walker Chandiok & Co. LLP

The stake purchase in numbers

Item	Detail
Seller	eClerx LLC, a wholly owned subsidiary
Stake acquired	approx. 2.0%
Holding after the deal	approx. 2.0% direct; approx. 98.0% through eClerx LLC
Consideration	US$1,639,121.40 in cash
Valuation	Arm's length, based on report dated 28 Oct 2026 by Walker Chandiok & Co. LLP
Turnover FY2026	₹18.68 crore
Profit after tax FY2026	₹6.24 crore
Indicative completion	1 month

The stake moves within the group

The 2.0% stake is bought from eClerx LLC, a wholly owned subsidiary of eClerx Services Limited. After the deal the company holds approx. 2.0% of Personiv Eclipse Inc. directly and approx. 98.0% through eClerx LLC, with no change in aggregate ownership.

The deal is treated as an intra-group transaction between the company and eClerx LLC. It is stated to be exempt from Regulations 23(2), (3) and (4) under Regulation 23(5)(b) of the Listing Regulations.

Purpose and price

The stated objective is to provide funds to eClerx LLC to meet its working capital requirements.

The consideration of US$1,639,121.40 is in cash and is set at arm's length, based on a valuation report dated 28 Oct 2026 by Walker Chandiok & Co. LLP.

Personiv Eclipse's turnover has fallen since FY2024

Personiv Eclipse, formerly Personiv Contact Centres LLC, was acquired by the company in December 2020. Its main service offerings include digital, creative, back office and customer contact.

Its turnover was ₹121.83 crore in FY2024, ₹57.20 crore in FY2025 and ₹18.68 crore in FY2026. Its profit after tax was ₹10.62 crore, ₹6.62 crore and ₹6.24 crore over the same years.

These figures are converted at ₹82.78, ₹84.56 and ₹88.37 per US dollar for FY24, FY25 and FY26.

What the stake purchase means for eClerx Services Limited's shareholders

The company's aggregate ownership does not change; the stake moves between the company and its own subsidiary for US$1,639,121.40 in cash.

No figure is given for the number of shares acquired or for the impact on results. The next dated step is completion, indicated within 1 month of the board approval on 28 Oct 2026.

Reference: Original filing (PDF)

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