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Datamatics Global Services informs about outcome of board meeting

08 May 2024 Evaluate
Datamatics Global Services has informed that pursuant to Joint Venture Agreement entered into between Datamatics Global Services and Cloud Growth dated 4th October 2022, wherein a Joint Venture Company was incorporated namely Datamatics Cloud Solution (JVC) in which the Company is holding 77% shares and Cloud Growth is holding 23% shares. Further, the Board of Directors of the Company at its Meeting held today on May 08, 2024, have approved, to acquire the balance 23% stake in JVC held by Cloud Growth and on completion of aforesaid acquisition of shares, JVC will become Wholly Owned Subsidiary of the Company and Joint Venture Agreement between the Company and Cloud Growth will be terminated on completion of acquisition & payment of consideration in full. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023 are provided in Annexure I, enclosed.

The above information is a part of company’s filings submitted to BSE.

Datamatic GlobalServ Share Price

900.30 36.05 (4.17%)
10-Jul-2026 16:59 View Price Chart
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