Megasoft Ltd transfers products division to subsidiary

The Board of Directors of Megasoft Ltd had decided that the non-value adding / loss making products division of the Company, having negative net worth, shall be held in a separate entity for further strategic evaluation and assessment on the way forward for this division.

Accordingly, the company has transferred / Sold all its holdings in its two wholly owned overseas subsidiaries, XIUS Holding Corp, USA and Megasoft Consultants SDN. BHD Malaysia at the current fair valuation, to its Wholly owned Indian Subsidiary, M/s Nelatop systems Pvt Ltd ("NSPL") on 28th March 2022.

Shares of Megasoft Limited was last trading in BSE at Rs. 47.35 as compared to the previous close of Rs. 49.30. The total number of shares traded during the day was 51459 in over 270 trades.

The stock hit an intraday high of Rs. 51.60 and intraday low of 46.85. The net turnover during the day was Rs. 2495353.00.

Source : Equity Bulls

Keywords

Megasoft INE933B01012 OverseasSubsidiary NelatopSystems