Majesco is currently trading at Rs. 459.60, up by 2.85 points or 0.62% from its previous closing of Rs. 456.75 on the BSE.
The scrip opened at Rs. 462.60 and has touched a high and low of Rs. 465.00 and Rs. 459.60 respectively. So far 185 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 603.95 on 24-Jan-2018 and a 52 week low of Rs. 401.10 on 19-Jul-2018.
Last one week high and low of the scrip stood at Rs. 479.40 and Rs. 431.00 respectively. The current market cap of the company is Rs. 1300.19 crore.
The promoters holding in the company stood at 39.55%, while Institutions and Non-Institutions held 20.63% and 39.82% respectively.
Majesco has filed a registration statement relating to a rights offering to all shareholders in which it expects its parent company will invest an estimated $35 million that it raised through a Qualified Institutional Placement in India in February 2018.
The funds will be used to support three strategic areas of Bolster Majesco’s Balance Sheet to Fund Future Acquisition Opportunities, Strengthen L&A EMEA Presence to Leverage Growing Market Opportunity and invest in Business Platform to Accelerate and Support Growth. The company intends to use this capital to fund the remainder of the Exaxe acquisition, pay off debt, and accelerate cloud growth, which includes additional acquisition opportunities.
Majesco enables insurance business transformation for approximately 150 insurance customers by providing solutions which include software, consulting and services.
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