EQUIPPP Social Impact Technologies Ltd enters into JV agreement with Seneca Global IT Services Pvt Ltd

EQUIPPP Social Impact Technologies Ltd (EQUIPPP) has entered into a Joint Venture Agreement with Seneca Global IT Services Private Limited (SenecaGlobal), a Company founded by Serial Entrepreneurs with ~30+ years of entrepreneurial journey including, Mr. Rao Tummalapalli, Mr. Edward V. Szofer, Mr. Swaminathan Mani, who founded and headed organizations that employ ~5,000 professionals today.

SenecaGlobal is a leader in innovation outsourcing for complex software development, managed services and enterprise resource planning (ERP) solutions. The company helps its clients' diverse domains including the HealthTech, SecurityTech, FinTech and manufacturing/logistics industries - develop and bring innovations to market faster.

The JV agreement was signed and exchanged today between Mr. A Sri Prasad Mohan (CFO, EQUIPPP) and Mr. Rao Tummalapalli (MD, SenecaGlobal) in the presence of Mr. Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government at T-HUB in Hyderabad. Both the companies presented the work they have been doing so far and discussed how this joint venture collaboration can be capitalized for ESG opportunities across the global markets.

Mr Jayesh Ranjan spoke about initiatives taken by Government of Telangana in the domain of ESG and appreciated the role of corporates in fighting against the recent pandemic through their CSR programs. Given the relevance of ESG in the current global markets and trends as seen in key events such as World Economic Forum (WEF) Summits, He extended his optimism about this joint venture and wishes to keep track of its progress.

This JV between EQUIPPP and SenecaGlobal will introduce SenecaGlobal to a new market and focus on delivering cutting-edge offerings customized to the specific needs of the ESG Global market. By combining EQUIPPP's expertise in the social impact domain with SenecaGlobal's state-of-the-art product engineering capabilities, the partnership aims to accelerate the technology adoption for enabling enterprises to meet their ESG goals.

Shares of EQUIPPP Social Impact Technologies Ltd was last trading in BSE at Rs. 26.40 as compared to the previous close of Rs. 26.50. The total number of shares traded during the day was 243 in over 8 trades.

The stock hit an intraday high of Rs. 27.45 and intraday low of 26.40. The net turnover during the day was Rs. 6533.00.

Source : Equity Bulls

Keywords

EQUIPPSocialImpactTechnologies JVAgreement SenecaGlobalITServices ESG CSR