Intrasoft Technologies Board approves investment and Amalgamation
Intrasoft Technologies board approves investment in subsidiary IntraSoft Ventures Pte. Limited and the amalgamation of One Two Three Greetings (India) Private Limited with Intrasoft Technologies Limited.
The investment in the subsidiary and the amalgamation are likely to have a moderate impact on the company's operations and financial structure.
The announcement indicates investment and consolidation through amalgamation, which are generally perceived positively.
* Approved investment in Equity Shares of IntraSoft Ventures Pte. Limited, Singapore, its Wholly Owned Subsidiary, up to USD 1.75 million (approximately ₹14.52 crore) for cash at approximately USD 6.90 per equity share. * The investment will be completed within three months in one or more tranches. * Approved the Scheme of Amalgamation of One Two Three Greetings (India) Private Limited, a Wholly Owned Subsidiary, with IntraSoft Technologies Limited. * The Proposed Scheme is subject to approvals from shareholders, creditors, NCLT, SEBI and other regulatory authorities. * The board meeting commenced at 03:30 P.M. and concluded at 04:00 P.M.
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.