Niyogin Fintech Ltd approves formation of subsidiary

The Board of Directors of Niyogin Fintech Limited at their meeting held today, have approved the incorporation of a wholly owned subsidiary of the Company in the name and style "Niyogin AI Private Limited" or such other name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs for the purposes of acquisition of AI based platform 'Superscan' and other business activities. The completion of this acquisition is subject to the execution of definitive agreements with mutual acceptance and the fulfilment of other obligations outlined in the draft term sheet.

The object is to expand the current business operations through the proposed acquisition of the AI based platform 'Superscan' in this wholly owned subsidiary along with other business activities.

Shares of Niyogin Fintech Ltd was last trading in BSE at Rs. 72.29 as compared to the previous close of Rs. 68.85. The total number of shares traded during the day was 80878 in over 194 trades.

The stock hit an intraday high of Rs. 72.29 and intraday low of 69.60. The net turnover during the day was Rs. 5828409.00.

Source : Equity Bulls

Keywords

NiyoginFintech INE480D01010 Subsidiary