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BSE SENSEX
73,088.33
+599.34
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Corporate Announcement
Security Code
500179
Company
HCL Infosystems Ltd
Exchange Received Time
15/11/2019 15:46:44
Exchange Disseminated Time
15/11/2019 15:46:48
Time Taken
00:00:04
Update On Sale Of HCL Insys Pte Ltd., A Step Down Subsidiary Of HCL Infosystems Limited To M/S PCCW Solutions Limited. |
11/15/2019 3:46:45 PM
Dear Sirs,
Further to our notification dated 6th August, 2019 regarding Board approval for sale of Shares of HCL Insys Pte Ltd, we wish to inform that HCL Learning Limited (a wholly owned subsidiary of HCL Infosystems Limited), has concluded the sale of entire shareholding of its wholly owned subsidiary HCL Insys Pte Ltd., Singapore today i.e., 15th November, 2019 to M/s PCCW Solutions Limited, Hong Kong for a consideration of SGD 57,628,787 (Singapore Dollar Fifty-Seven Million Six Hundred Twenty-Eight Thousand Seven Hundred Eighty-Seven).
The investment of HCL Insys Pte Ltd., in its subsidiary, namely M/s Nurture Technologies FZE (formerly known as HCL Infosystems MEA FZE) was excluded from the transaction along with the trading business carried out by HCL Insys Pte Ltd. which was carved out before transfer of the entity. Both were transferred to HCL Investments Pte Ltd., a wholly owned step down subsidiary of HCL Infotech Limited.
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