TVS Electronics Ltd to acquire GTID Solutions Development Pvt Ltd

TVS Electronics Ltd has executed Business Transfer Agreement with M/s GTID Solutions Development Private Limited on 22nd August 2022 to enter into mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions etc. to segments like Retail, Banks and Government.

The Cost of Acquisition will be Rs. 2.25 Crores.

With an established products network, the Company wish to acquire the business and IP rights of GTID Solutions Development Pvt Ltd to enter into mobile POS software solutions and authentication solutions space. This will help the company in offering hardware along with required applications, digital payment solutions, cloud computing software solutions etc. to segments like Retail, Banks and Government.

Shares of TVS Electronics Limited was last trading in BSE at Rs. 253.00 as compared to the previous close of Rs. 238.90. The total number of shares traded during the day was 50403 in over 2132 trades.

The stock hit an intraday high of Rs. 267.00 and intraday low of 238.00. The net turnover during the day was Rs. 12896037.00.

Source : Equity Bulls

Keywords

TVSElectronics INE236G01019 Acquisition GTIDSolutionsDevelopment MobilePOSSoftware AuthenticationSolutions