Intrasoft Technologies Board Approves Investment & Amalgamation
Intrasoft Technologies' board approves investment in subsidiary IntraSoft Ventures Pte. and amalgamation of One Two Three Greetings (India) Private Limited with Intrasoft, subject to regulatory approvals.
The investment in the subsidiary and the amalgamation are significant but require regulatory approvals, thus having a medium impact.
The announcement indicates strategic decisions for investment and business consolidation, which are generally perceived positively.
* Board approved investment up to USD 1.75 million (approximately ₹14.52 crore) in IntraSoft Ventures Pte. Limited, Singapore, its wholly-owned subsidiary, at a price of approximately USD 6.90 per equity share, subject to final valuation. The investment will be completed within 3 months. * Approved the Scheme of Amalgamation of One Two Three Greetings (India) Private Limited, a Wholly Owned Subsidiary, with Intrasoft Technologies Limited, subject to approvals from shareholders, creditors, NCLT, SEBI and other regulatory authorities.
What to do with a filing like this
Intrasoft Technologies Limited filed this with the NSE as a statutory disclosure, categorised under merger. 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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See the model portfoliosA plain-language summary of a public exchange filing by Intrasoft Technologies Limited. Read the original for the full detail.