Mastek shines as its arm gets nod to acquire entire Membership Interest in Metasoftech Solutions

Mastek is currently trading at Rs. 2010.05, up by 42.65 points or 2.17% from its previous closing of Rs. 1967.40 on the BSE.


The scrip opened at Rs. 1984.40 and has touched a high and low of Rs. 2021.55 and Rs. 1977.15 respectively. So far 1423 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 3666.00 on 19-Oct-2021 and a 52 week low of Rs. 1851.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 2085.75 and Rs. 1942.00 respectively. The current market cap of the company is Rs. 5910.82 crore.

The promoters holding in the company stood at 37.30%, while Institutions and Non-Institutions held 13.27% and 49.43% respectively.

Mastek’s wholly owned first level step-down subsidiary — Mastek Inc. has received approval to sign definitive agreement to acquire the 100% Membership Interest of Metasoftech Solutions (MST USA).

The transaction will be completed, subject to satisfactory fulfillment and accomplishment of certain conditions precedent, completion of customary agreements, corporate and regulatory approvals under applicable laws.

Mastek’s Business Outcomes and Industry First DNA paired with MST USA’s Salesforce-led innovation capabilities will strengthen the value company will deliver to customers and help them in their journey to Decomplex Digital.

This acquisition is expected to significantly increase company’s market share in existing accounts across industries in the Americas and provide a foundation to scale Digital Transformation business globally.

The board of directors at its meeting held on July 18, 2022 has approved the same.

Mastek together with its subsidiaries, provides enterprise technology solutions and platforms for insurance, government, and financial services organizations worldwide.

Leave a Comment