Scandent Solutions gets listed on BSE, NSE

NEW DELHI: Scandent Solutions Corporation Ltd, a broad based IT solutions company, has got listed at both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The scrip details are Script abbreviated name: SCANDENT SOL Script code: 532616 Script ID: SCANDENT Group: B1 The scrip opened at Rs. 190 on the Stock Exchange, Mumbai (BSE).

Scandent CEO Dilip Keshu said, "This is a momentous occasion for all of us at Scandent. Today, Scandent Solutions has become an integral part of the Indian IT industry milieu. I would like to congratulate each and every one at Scandent for making this possible. We are extremely pleased with the response to our listing."

Scandent Solutions Corporation has been formed by the merger of IT services business of SSI Ltd and Scandent Solutions. Consequent to the de-merger, one new share of Scandent was issued for each share of SSI. The record date for this purpose was October 20, 2004. Pursuant to the court approvals, Scandent made an application to BSE and the Securities and Exchange Board of India (SEBI) for obtaining its clearance for the listing of its existing shares and the shares to be issued to the shareholders of SSI. The company has also obtained in principle approvals from the Chennai and Ahmedabad Stock Exchanges for listing of shares. Scandent Group promoters own 42 percent of the total equity in Scandent Solutions Corp., and the balance is with the public.