IntraSoft Technologies Ltd approves investment in IntraSoft Ventures Pte Ltd

The Board of Directors of IntraSoft Technologies Ltd in its Meeting held on Saturday, May 25, 2024 has noted, considered and approved the further investment in 7,31,000 Equity Shares of IntraSoft Ventures Pte. Limited, Singapore, Wholly Owned Subsidiary of the Company at a price of USD 6.56 per share (equivalent SGD 8.84) for a consideration up to USD 48,00,000 subject to the final report on determination of price at arms length basis by a Valuer, being within the limits of Section 186 of the Companies Act, 2013. The investment may be made in one or more tranches and shall be completed within 3 months. Post investment IntraSoft Venture Pte. Limited shall continue to be the Wholly Owned Subsidiary of the Company.

Shares of Intrasoft Technologies Limited was last trading in BSE at Rs. 129.00 as compared to the previous close of Rs. 130.50. The total number of shares traded during the day was 4872 in over 213 trades.

The stock hit an intraday high of Rs. 132.00 and intraday low of 128.50. The net turnover during the day was Rs. 633077.00.

Source : Equity Bulls

Keywords

IntrasoftTechnologies INE566K01011 Investment IntraSoftVentures Singapore