Cressanda Railway Solutions to acquire majority stake in SYN Developers

PNN

Mumbai (Maharashtra) [India], January 8: Cressanda Railway Solutions (BSE: CRESSAN) Formerly Known as Cressanda Solutions Ltd a leading private Railway auxiliary concierge service and digital media company, today announces entering into a share purchase agreement (SPA) to acquire majority stake in SYN developers (SYND). SYND is currently implementing a water supply project in West Bengal under our PM Shri Narendra Modi ambitious Jal Jeevan Mission to provide clean drinking water to 2 Lakh population, across 25 villages in West Bengal. The project is spread across 68 kms and will benefit 50,000 families.

Speaking on the developments, Arun Tyagi, Managing Director Cressanda Railway Solutions said, "Eastern India is a big market for us. We have earlier acquired advertising and concierge services rights for 500 plus trains of Eastern Railways, and digital advertising rights from Kolkata Metro. To further expand our footprint in West Bengal, we have now entered into the sale purchase agreement with SYN Developers. This SPA is very important as we will be aligning with the vision of our Hon'ble Prime Minister towards providing access to clean and safe water to every Indian household. We are committed to make meaningful contribution towards socio-economic development of India."

Cressanda Railway Solutions also completes the successful acquisition of 51% stake in Mastermind Advertising Pvt Ltd. The transaction has now been completed upon receipt of necessary regulatory approvals, and fulfilment of other customary closing conditions. This completion of transaction enhances Cressanda Railway Solutions presence in the OTT segment that is expected to record the fastest growth in entertainment industry in the years ahead. Mastermind Advertising is one of India's fastest growing broadcast management and audio-visual content syndication company that focuses on Content licensing, Movie syndication, Diaspora marketing, Film production, etc. The company recently launched a unique OTT platform 'FIRNG' that showcases unexplored international movies dubbed in Hindi.

Tyagi further added, "We are committed to invest in the businesses that are futuristic with high growth potential, and provides value to our esteemed stakeholders. Mastermind Advertising acquisition marks our entry into the OTT segment, where we will be providing international content in Hindi to Indian viewers. International content especially Korean and Japanese dubbed in Hindi have been a gamechanger. It is convenient for Indian viewers to watch popular shows and films in a language they understand. This market is growing faster and we aim to capitalize on the same."

Cressanda Railway Solutions has recently participated in the e-bidding process of Uttar Pradesh State Road Transportation Corporation (UPSRTC) for providing advertisement services on the exterior surfaces of Uttar Pradesh Roadways buses across 16 regions of Uttar Pradesh.

Cressanda Railway Solutions Limited ( Formerly known as Cressanda Solutions Ltd ) is an India based private Railway auxiliary concierge service and digital media company. The Company has embarked on a transformative journey to innovate, expand and integrate its technology offerings with capabilities to service large institutional opportunities. These service contracts will typically have deep societal impact besides having profitable and long-term financial profile. To deliver and successfully execute turnkey projects, Cressanda in its new avatar has partnered with Best-in- class partners and on boarded top-notch talent with deep domain expertise. The Company in its pursuit to achieve its goals has already bid for a large institutional concierge opportunity to enhance overall customer experience.

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