Accel Frontline Promoters enter into agreement with CAC Corporation

CAC Corporation ("CAC") 24-1, Hakozakicho, Nihonbashi, Chuo-Ku, Tokyo, 103-0015, Japan, a Tokyo head quartered IT services company, (the "Acquirer"), and Accel Frontline Limited (the "Company") and the Company's Present Promoters have come together to form a Joint Venture with CAC taking a 51% stake in the Company by means of a secondary purchase from the Present Promoters and also direct investment in the Company by way of a preferential Issue.

Shares of Accel Frontline Ltd. was last trading BSE at Rs.35.50, up by Rs.1.65 or 4.87%. The stock hit an intraday high of Rs.35.50 and intraday low of Rs.35.50.

The total traded quantity was 320 shares as compared to 2 week average of 4041 shares.

Source : Equity Bulls

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