Breaking News

You are here » Indian-Commodity  :  Corporate  :  Streamcast Group to invest Rs 5,500 crore in Rolta India's arm

13-May2019

Streamcast Group to invest Rs 5,500 crore in Rolta India's arm

Rolta India has decided to accept the offer received from the Streamcast Group for subscribing to certain securities of Rolta BI & Big Data Analytics, a wholly owned subsidiary (WOS) of the company by making an investment of approximately Rs 5,500 crore in consideration for certain undertakings being transferred by the Company to its WOS on slump sale basis as a going concern. The Board of Directors of the Company at its meeting held on May 11, 2019 has approved the same.

Rolta India is engaged in providing IT-based solutions in areas of geospatial, engineering design and Defence and homeland security. The company is engaged in developing interactive media and games.


Related News

View all news

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......

Crisil downgrades DHFL's commercial papers worth Rs 850 crore

Credit Rating Agency Crisil has downgraded Dewan Housing Finance Corporation's commercial paper worth Rs 850 crore from A3+ to A4+. Its rating also continues to be on 'Rating Watch with Negative Implications'.......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......