Sasken Technologies Limited approves strategic investment of upto Rs. 50 crores

The Board of directors of Sasken Technologies Limited has considered and approved a proposal, subject to completion of due diligence and regulatory approvals, if any for making a strategic investment not exceeding Rs.50 crores either directly or by entering into a joint venture along with one of the companies having global presence, specializing in Advanced AI/5G/Power driven IP licensing, custom ASIC design and foundry service business.

The said investment would be made to strengthen Sasken Group's IP repertoire and engineering capabilities. We will in due course file the requisite disclosures once they are firmed up.

Shares of Sasken Technologies Limited was last trading in BSE at Rs. 1045.80 as compared to the previous close of Rs. 1055.40. The total number of shares traded during the day was 239 in over 79 trades.

The stock hit an intraday high of Rs. 1069.65 and intraday low of 1043.50. The net turnover during the day was Rs. 252961.00.

Source : Equity Bulls

Keywords

SaskenTechnologies INE231F01020 StrategicInvestment