Velotio Technologies Private Limited, a subsidiary of the Company (“Velotio”), has approved the acquisition of additional 60% (sixty per cent) equity shares of Scaleworx Technologies Private Limited, a company incorporated under the Companies Act, 2013, and having a business of information technology relating to DevOps consulting, infrastructure management, outsourced product development and digital product engineering services (“Scaleworx”).
Velotio as on date, already holds 40% (forty per cent) equity shares of Scaleworx and hence is an associate company of Velotio. Post the acquisition of the remaining 60% (sixty per cent) equity shares, Scaleworx will become a wholly-owned subsidiary of Velotio.
Corporate Disclosure under SEBI Listing Regulations for business approved at the Board Meeting
For further information please contact:
Bhasker Dubey (Tel No. 0120 – 430 3566)