Megasoft Ltd on Tuesday said its board has approved the proposed sale of the company’s entire 36.52% stake in Extrovis AG, Switzerland, for a total consideration of $15 million (approximately ₹128.4 crore), subject to exchange rate fluctuations.The deal is yet to be formalised, with the share purchase agreement (SPA) still pending execution. The sale will be completed in one or more tranches, the company said in its filing to the exchanges.
Refex Life Sciences Pvt Ltd will be the buyer, and it does not belong to Megasoft’s promoter or group companies. The transaction is not classified as a related-party deal and falls outside any existing scheme of arrangement. Megasoft also clarified that it will seek shareholder approval through a postal ballot in due course.
Also read: Godrej Properties sells 2.5% stake in Vivrut Developers for ₹8.63 croreExtrovis AG, being an associate company, does not contribute to Megasoft’s standalone financials. Only its losses have been accounted for on a proportionate basis at the consolidated level.
Refex Life Sciences Pvt Ltd will be the buyer, and it does not belong to Megasoft’s promoter or group companies. The transaction is not classified as a related-party deal and falls outside any existing scheme of arrangement. Megasoft also clarified that it will seek shareholder approval through a postal ballot in due course.
Also read: Godrej Properties sells 2.5% stake in Vivrut Developers for ₹8.63 croreExtrovis AG, being an associate company, does not contribute to Megasoft’s standalone financials. Only its losses have been accounted for on a proportionate basis at the consolidated level.
Ahead of the announcement, shares of Megasoft Ltd hit the lower circuit and ended 2% down at ₹107.27 on the NSE.
