Hinduja Ventures gains on entering into scheme of arrangement with IndusInd Media

28 Aug 2019

Hinduja Ventures is currently trading at Rs. 340.00, up by 5.45 points or 1.63% from its previous closing of Rs. 334.55 on the BSE.

The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 340.00 and Rs. 340.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 700.45 on 03-Sep-2018 and a 52 week low of Rs. 276.10 on 01-Aug-2019.

Last one week high and low of the scrip stood at Rs. 340.00 and Rs. 301.00 respectively. The current market cap of the company is Rs. 698.89 crore.

The promoters holding in the company stood at 70.82%, while Institutions and Non-Institutions held 6.65% and 22.52% respectively.

Hinduja Ventures has received approval for scheme of arrangement between IndusInd Media and Communications and Hinduja Ventures and their respective shareholders. As consideration for the proposed scheme, equity shares of the company shall be issued to the eligible shareholders of IndusInd Media. The Board of Directors of the Company at its meeting held on August 27, 2019 has approved the same.

Formerly known as Hinduja TMT, Hinduja Ventures is part of the Hinduja Group companies. It is an outsourcing company that provides IT services and BPO/contact center services to customers.

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