Sagarsoft (India) Limited board approves acquisition of IT CATS, LLC, USA

The Board of Directors of Sagarsoft (India) Limited at their meeting held on today, accorded its in-principle approval for proposed acquisition of 100% stake in IT CATS, LLC, USA, subject to completion of valuation, satisfactory diligence and all other applicable statutory and regulatory approvals/compliances as may be required for the purpose, post which the Board shall reconsider the matter for its final approval.

Further, the Board of Directors, accorded its in-principle approval for issue of Equity Shares / Convertible Warrants to Promoters / Non-Promoters on preferential basis in accordance with the applicable provisions of the Companies Act, 2013, the rules framed thereunder and the SEBI (ICDR) Regulations as amended from time to time subject to all statutory and regulatory approvals/compliances as may be required for the purpose, post which the Board shall reconsider the matter for its final approval.

Shares of Sagarsoft (India) Ltd was last trading in BSE at Rs.118.05 as compared to the previous close of Rs. 98.55. The total number of shares traded during the day was 111124 in over 852 trades.

The stock hit an intraday high of Rs. 118.25 and intraday low of 101.25. The net turnover during the day was Rs. 12336917.

Source : Equity Bulls

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