Ace Software Exports shines on getting nod to incorporate wholly owned subsidiary in UAE
Ace Software Exports is currently trading at Rs. 252.95, up by 9.90 points or 4.07% from its previous closing of Rs. 243.05 on the BSE.
The scrip opened at Rs. 243.05 and has touched a high and low of Rs. 259.80 and Rs. 243.05 respectively. So far 9052 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 354.95 on 10-Feb-2025 and a 52 week low of Rs. 136.46 on 28-Jun-2024.
Last one week high and low of the scrip stood at Rs. 259.80 and Rs. 229.05 respectively. The current market cap of the company is Rs. 325.76 crore.
The promoters holding in the company stood at 68.21%, while Non-Institutions held 31.79% stake in the company.
Ace Software Exports has received approval for incorporation of wholly owned subsidiary of the company in a Free Zone in the United Arab Emirates (UAE), subject to necessary statutory and regulatory approvals, as may be applicable.
The proposed subsidiary will be engaged in the business of software development, IT services, and technology consulting, offering digital transformation and enterprise solutions to global clients with an objective to support and expand the company’s international operations, particularly in the Middle East and surrounding regions.
The Board of Directors of the Company at their meeting held on June 19, 2025, has approved the same.
Ace Software Exports is mainly engaged in the business of creation of Database. The company has been active in catering to the outsourcing needs of publishers and other organizations.
