Hexaware Technologies Approves Amalgamation with Subsidiaries and Reconstitutes Board Committee
Hexaware Technologies' Board approved the amalgamation of its wholly-owned subsidiaries, Softcrylic and Mobiquity, with the parent company. Softcrylic had ₹38.35 Cr turnover and ₹13.12 Cr net worth. Mobiquity had ₹114.98 Cr turnover and ₹86.94 Cr net worth as of Sep 30, 2025. The Nomination and Remuneration Committee was also reconstituted.
The amalgamation of wholly-owned subsidiaries is an internal restructuring that could lead to operational efficiencies. While positive, it does not immediately represent a significant change in the company's core business or financial outlook that would warrant a 'HIGH' impact.
The approval of the amalgamation of wholly-owned subsidiaries with the parent company is a positive step for streamlining operations and potentially improving efficiency. The reconstitution of the board committee is a routine governance update.
Hexaware Technologies Limited announced that its Board of Directors, in a meeting held on December 18, 2025, has approved a Scheme of Amalgamation. This scheme involves the merger by absorption of its wholly-owned subsidiaries, Softcrylic Technology Solutions India Private Limited and Mobiquity Softech Private Limited, with Hexaware Technologies Limited. Softcrylic Technology Solutions India Private Limited reported a turnover of ₹38.35 Crore and a net worth of ₹13.12 Crore as of September 30, 2025. Mobiquity Softech Private Limited had a turnover of ₹114.98 Crore and a net worth of ₹86.94 Crore as of the same date. Hexaware Technologies Limited's standalone turnover for the nine months ended September 30, 2025, was ₹5,529.2 Crore, with a net worth of ₹3,447.20 Crore. The merger is expected to be beneficial for all stakeholders and is subject to necessary approvals, including from the National Company Law Tribunal. The company also announced the reconstitution of its Nomination and Remuneration Committee. Mr. Kapil Modi has been appointed as a member, while Mr. Neeraj Bharadwaj ceases to be a member of the committee.
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Hexaware Technologies Limited filed this with the NSE as a statutory disclosure, categorised under amalgamation. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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