3i Infotech touches roof on getting nod to sell global software products business to Azentio Group

3I Infotech Ltd. | IT - Software | IT & ITES | BSE: 532628 | NSE: 3IINFOLTD

29 Dec 2020 Evaluate

3I Infotech is currently trading at its upper circuit limit of Rs. 5.91, up by 0.28 points or 4.97% from its previous closing of Rs. 5.63 on the BSE.

The scrip opened at Rs. 5.91 and has touched a high and low of Rs. 5.91 and Rs. 5.91 respectively. So far 6718045 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 5.91 on 29-Dec-2020 and a 52 week low of Rs. 1.15 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 5.91 and Rs. 5.05 respectively. The current market cap of the company is Rs. 955.44 crore.

The Institutions and Non-Institutions holding in the company stood 26.80% and 73.20% respectively.

3i Infotech has received an approval for the slump sale of its global software products business (including its worldwide subsidiaries) on a going concern basis to Azentio Software along with its parent and fellow subsidiaries (collectively Azentio Group), subject to receipt of requisite approvals and executed a business transfer agreement (BTA) between the company and the Buyer on December 28, 2020. The board of directors of the company in its meeting held on December 28, 2020, has considered and approved the same.

The company's software product business consisting of the business, intellectual property and employees inter alia in India, USA, UK, Kenya, UAE, Malaysia, Singapore, Thailand and Saudi Arabia. The software product business of the company in India (Product Division) is being transferred under the BTA. The software products business in the other jurisdictions will be transferred pursuant to offshore business transfer agreements. The company will use proceeds of the sales to facilitate repayment of all existing debt exposure of the company, to scale up other existing business segments of the company, including providing IT services to customers across sectors and geographies and to unlock value by sale of an undertaking of the company and strengthening the balance sheet of the company.

3i Infotech is a global Information Technology company which provides technology solutions to over 1500 customers in more than 50 countries across 5 continents, spanning a range of verticals.

3I Infotech Share Price

17.27 0.12 (0.70%)

05-Jun-2026 09:59 View Price Chart

Peers

Company Name	CMP
TCS	2247.20
Infosys	1207.55
HCL Tech.	1159.00
Wipro	196.35
Tech Mahindra	1501.20
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