Allsec Technologies zooms on getting nod to merge with Quess Corp
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Allsec Technologies is currently trading at Rs. 447.70, up by 16.70 points or 3.87% from its previous closing of Rs. 431.00 on the BSE.
The scrip opened at Rs. 448.00 and has touched a high and low of Rs. 482.45 and Rs. 440.15 respectively. So far 7513 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 748.60 on 17-Jan-2022 and a 52 week low of Rs. 366.70 on 24-Jun-2021.
Last one week high and low of the scrip stood at Rs. 482.45 and Rs. 428.85 respectively. The current market cap of the company is Rs. 682.22 crore.
The promoters holding in the company stood at 73.39%, while Institutions and Non-Institutions held 0.02% and 26.60% respectively.
Allsec Technologies has received approval for the merger of Allsec Technologies into Quess Corp (Scheme) in an all-stock deal. Upon the scheme becoming effective, all the subsidiaries of Allsec will become subsidiaries of Quess. The Board of Directors of Allsec Technologies and Quess Corp in their respective meetings held on June 22, 2022 have approved the same. Public shareholders of Allsec will receive 74 shares of Quess for every 100 shares held in Allsec.
The merger is subject to the approval of the respective shareholders and creditors of Quess and Allsec, Stock Exchanges, SEBI, the National Company Law Tribunal and other regulatory authorities as may be required. Till the Scheme becomes effective, Quess and Allsec will continue to function independently.
Allsec Technologies is engaged in the business of providing IT enabled services.
