DRC Systems lists on bourses
March 10, 2021
The company is a demerged IT consultancy arm of Infibeam Avenues IT solutions and consultancy services provider DRC Systems India Ltd has received the approval from stock exchanges BSE and NSE for listing and trading its equity shares with effect from March 10, 2021, on both the stock exchanges.
The company informed that it received the notice on March 8, 2021.
The shares were listed in the T Group of BSE with a price of ₹128.75 in Wednesday’s opening trades.
DRC Systems offers customised IT solution and consultancy services to clients from the embryonic stage to the implementation stage. The services include development, maintenance, testing and all related ancillary services.
On 09 March 2021 Everest Industries announced that the National Company Law Tribunal (NCLT), Mumbai Bench has sanctioned the scheme of merger of Everest Building Solutions (a wholly owned subsidiary of the company) with Everest Industries. The said order has been uploaded on the website of NCLT on 09 March 2021.
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NEW DELHI: DRC Systems India Limited, the demerged entity of IT consultancy Infibeam Avenues, got listed on bourses on Wednesday. The shares were listed at Rs 128.75 and Rs 128.80 on BSE and NSE respectively in opening deals. In a statement, the company said it received approval from BSE and NSE for listing and trading of its equity shares with effect from Wednesday. DRC Systems offers a vast range of customized IT solution and consultancy services to clients in India and International from the embryonic stage to the high-level stage. This includes development, maintenance, testing and all related ancillary services.
Valli Arunachalam, the eldest daughter of former Murugappa group executive chairman M V Murugappan, and her family have moved the National Company Law Tribunal (NCLT), Chennai, seeking waiver of the minimum shareholding requirement of 10 per cent to maintain the alleged oppression and mismanagement case against Ambadi Investments (AIL), the flagship company of the Rs 38,000-crore group.
The NCLT has given the respondents three weeks’ time to reply and posted the matter for April 23.
Senior Counsel P S Raman, who appeared for Arunachalam, argued that the family owns 8.21 per cent in AIL and falls short of the minimum requirement by 1.79 per cent, according to section 241 of the Companies Act 2013.