Allied Digital Services touches roof on plan to divest its entire stake in Digicomp

Allied Digital Services is locked at upper circuit limit of Rs. 14.64, up by 0.69 points or 4.95% from its previous closing of Rs. 13.95 on the BSE.

The scrip opened at Rs. 14.10 and has touched a high and low of Rs. 14.64 and Rs. 14.10 respectively. So far 5,405 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 26.80 on 04-Oct-2012 and a 52 week low of Rs. 7.40 on 10-Jun-2013.

Last one week high and low of the scrip stood at Rs. 13.95 and Rs. 11.41 respectively. The current market cap of the company is Rs. 67.00 crore.

The promoters holding in the company stood at 43.71% while Institutions and Non-Institutions held 2.96% and 53.33% respectively.

Allied Digital Services has entered into a definitive agreement with the UK based Regenersis Group to divest its entire 52.6% stake in its subsidiary, Digicomp Complete Solutions (Digicomp), which is engaged in the business of aftermarket services to global ODMs /OEMs for products in the information, communication and technology sectors. Allied Digital had invested in the company in 2008 as a strategic investor.

This divestment of stake has been unanimously approved by the board of directors of Allied Digital. It is expected that the closing will be achieved after completion of necessary transaction related commitments and customary conditions precedent. As part of the transaction, the Regenersis group will also acquire around 27% stake from other promoter shareholders of Digicomp resulting in an 80% stake purchase on the closing.

Digicomp is the country’s leading player in the aftermarket services space with a pan India presence across 22 cities and over 100 locations through its network of customer walk-in centres and depot repair centres. The company is engaged in the business of providing L1 to L4 repairs, refurbishment services, onsite support, asset recovery services to do take back / buy back of used IT equipments, meeting service demands of leading brands such as Dell, Asus, Acer, etc and the customers.

Digicomp is also accredited to leading global ODMs / OEMs to support the customers, providing in-warranty and out-of-warranty support, RMA services and reverse logistics. Digicomp provides its customers an outstanding technically robust, well entrenched platform and in partnership with the Regenersis group creates a strategic globally focused partnership out of India.