Mastek’s material wholly owned subsidiary -- Mastek (UK) has sold its partial holding of 8,24,500 shares in Majesco, USA for cash consideration of $ 6.49 million, in the open market on NASDAQ on January 7, 2020. This will help the company to drive its growth strategy.
After the completion of the aforesaid partial stock sale, stake of the company in Majesco (USA) will stand reduced to 22,20,375 shares from existing 30,44,875 shares.
Mastek together with its subsidiaries provides enterprise technology solutions and platforms for insurance, government, and financial services organizations worldwide.
