Morgan Stanley acquires shares in Vakrangee Software

MUMBAI, INDIA: Morgan Stanley and Company, one of the leading foreign institutional investors (FIIs), has picked up 5.36 per cent equity stake in Vakrangee Softwares Ltd (VSL), an integrated document and printing management solutions provider in India.

Similarly, Goldman Sachs Investments (Mauritius) I. Ltd and Merrill Lynch Capital Markets have already acquired 9.52 per cent and 7.33 per cent stakes respectively in Vakrangee Software.

Morgan Stanley and Co International  has disclosed the same to the stock exchange as per SEBI regulations.

These investments follow the decision of the company to increase the limit of investment by Foreign Institutional Investors (FIIs) from 24 per cent to 49 per cent of the share capital of the Company.

The raising of the FII investment ceiling would provide depth and liquidity to the Company’s shares as well as reflect the Company’s commitment to the highest standards of disclosures; transparency and corporate governance; and its operational efficiencies; global competitiveness; and proven management track record, which are the preferred investment qualifications for FIIs.