Intrasoft Technologies has received approval for further investment in 7,31,000 Equity Shares of IntraSoft Ventures, Singapore, Wholly Owned Subsidiary of the company at a price of $6.56 per share (equivalent SGD 8.84) for a consideration up to $48,00,000 subject to the final report on determination of price at arms length basis by a Valuer, being within the limits of Section 186 of the Companies Act, 2013.
The investment may be made in one or more tranches and shall be completed within 3 months. Post investment, IntraSoft Ventures shall continue to be the Wholly Owned Subsidiary of the company. The Board of Directors of the Company in their meeting held on May 25, 2024, inter-alia, considered and approved the same.
IntraSoft Technologies is a public limited company domiciled in India and registered under the provisions of the Companies Act, 1956. The company is primarily engaged in the business of providing a multi-channel e-commerce retail platform, with a strong technology backbone that primarily serves the US market.
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