Megasoft plans merger of Xius India

MUMBAI: Megasoft Ltd has informed BSE that, its board has approved the proposal for merger or amalgamation XIUS India Ltd with the company, based on the valuation report submitted by Pricewaterhouse Coopers Pvt Ltd. (PwC).

PwC recommended a swap ratio of 5 equity shares of Rs 10 each of the company for every 2 equity shares of Rs. 10 each of XIUS.






Based on the said swap ratio, 10,330,625 equity shares of Rs. 10 each of the company would be issued against 4,132,250 fully paid up equity shares of Rs. 10 each as on January 1, 2004, of XIUS India Ltd, consequent to the amalgamation, subject to necessary approvals





At the BSE, shares of Megasoft Ltd ended on Tuesday at Rs 53.50 up Rs 0.50 or 0.09 per cent on volumes of around 58,000 shares.

Source: IRIS