Sofcom Systems Ltd to acquire Avian Consultancy Pvt Ltd

The Board of Directors of Sofcom Systems Limited have considered and approved the resolution to acquire 100% shares of M/s Avian Consultancy Private Limited (ACPL) through a swap of shares in the ratio of 1:2250 i.e. every shareholder of ACPL holding 1 equity share of Rs. 10/- each fully paid up will be issued and allotted 2250 equity shares of SSL of Rs. 10/- each fully paid up.

Upon completion of the Transaction, the Company, ACPL will become the Wholly Owned Subsidiary of SSL.

Further, upon completion of the Transaction, the Company will be able to develop and extend its main line of business through Artificial Intelligence.

ACPL is engaged in the business of Information Technology and provides various services and support for OTT platform Development, Artificial Intelligence, Website Development, Business Data management, Networking etc.

The present management of the Company is actively engaged in the Development of Artificial Intelligence.

Shares of Sofcom Systems Ltd was last trading in BSE at Rs. 36.90 as compared to the previous close of Rs. 36.18. The total number of shares traded during the day was 19515 in over 17 trades.

The stock hit an intraday high of Rs. 36.90 and intraday low of 35.46. The net turnover during the day was Rs. 709281.00.

Source : Equity Bulls

Keywords

SofcomSystems INE499Q01012 Acquisition AvianConsultancy ShareSwap