Zensar Technologies climbs on completing process merger of US-based step-down subsidiaries into its USA arm

Zensar Technologies is currently trading at Rs. 267.45, up by 5.05 points or 1.92% from its previous closing of Rs. 262.40 on the BSE.

The scrip opened at Rs. 263.30 and has touched a high and low of Rs. 267.95 and Rs. 263.30 respectively. So far 2071 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.95 on 16-Mar-2021 and a 52 week low of Rs. 77.50 on 06-May-2020.

Last one week high and low of the scrip stood at Rs. 276.00 and Rs. 255.00 respectively. The current market cap of the company is Rs. 6031.96 crore.

The promoters holding in the company stood at 49.19%, while Institutions and Non-Institutions held 40.60% and 10.22% respectively.

Zensar Technologies has completed the process merger of the US-based 100% step-down subsidiaries (Merging Entities) into Zensar Technologies Inc., USA, a material wholly owned subsidiary of the company. The requisite filing process of merger applications, with respective local authorities/states, has been completed and with effective date of merger being April 1, 2021, the process is completed.

The four Merging Entities were Keystone Logic Inc., Professional Access, Cynosure Inc. and Indigo Slate Inc. Earlier, the company’s board had in-principally consented/authorised/approved merger.

Zensar Technologies, formerly known as ICIL was acquired by the RPG group in 1989. It is a globally focused software and services company spread across eighteen countries across the world.