IntraSoft Technologies has raised Rs 34.50 crore by selling 12,00,000 shares, at a rate of approximately Rs 288 per share. The entire net proceeds from this transaction are proposed to be used for expansion and growth activities related to the e-commerce business. The shares were sold by Intrasoft Beneficiary Trust, whose sole beneficiary is the company.
Intrasoft Beneficiary Trust was set up in 2007 pursuant to a scheme of amalgamation that was approved by the Bombay High Court and the Calcutta High Court, to hold shares solely for the benefit of the company. After the completion of this transaction, the entire number of equity shares held by the Intrasoft Beneficiary Trust has been sold and now the Trust does not hold any further shares of the company.
IntraSoft Technologies owns & operates 123Stores, an Online E-Commerce Retailer & 123Greetings.com, an online greeting cards company.
| Company Name | CMP |
|---|---|
| Eternal | 256.35 |
| Meesho | 200.05 |
| Swiggy | 280.80 |
| FSN E-Commerce | 272.90 |
| Brainbees Solutions | 235.95 |
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