Moneycontrol PRO
HomeNewsBusinessMarketsIntellect Design Arena UK to form JV with ITIXA Limited in GIFT City

Intellect Design Arena UK to form JV with ITIXA Limited in GIFT City

Intellect Design Arena UK to form JV with ITIXA Limited in GIFT City

August 21, 2025 / 16:40 IST
Disclaimer This is an AI-assisted live blog with updates sourced from multiple news outlets and agencies Disclaimer
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Intellect Design Arena Limited UK, a wholly-owned subsidiary of Intellect Design Arena Limited, has approved a Memorandum of Understanding (MOU) to establish a joint venture with UK-based ITIXA Limited in GIFT City, IFSC, Gujarat.

    The purpose of the JV entity is to provide Al-enabled software together with bookkeeping, accounting, payroll, HR, and other related business support services to businesses in the United Kingdom, as well as to accounting firms, regulators, and other accounting software providers and their customers. The JV entity may also expand its services and geographic reach, subject to the mutual agreement of the parties.

    Intellect Design Arena Limited, UK and ITIXA limited to hold 50.1% and 49.9% shareholding respectively, in the proposed JV entity with equal participation in the Board of Directors. The location of incorporation of the entity shall be in GIFT City, Gujarat.

     

    Joint Venture Details
    ParticularsDetails
    Name(S) of Parties with whom the agreement is entered.The Board of Directors of Intellect Design Arena Limited, UK (a wholly owned subsidiary of the Company) have approved a MOU to be entered into with UK based ITIXA Limited (a group Company of System Holdings Limited)
    Purpose of entering into the agreement.The purpose of the JV entity is to provide Al-enabled software together with bookkeeping, accounting, payroll, HR, and other related business support services to businesses in the United Kingdom, as well as to accounting firms, regulators, and other accounting software providers and their customers. The JV entity may also expand its services and geographic reach, subject to the mutual agreement of the parties.
    Shareholding, if any, in entity with whom agreement is executed.Nil
    Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares. right to restrict any change in capital structure etc.Intellect Design Arena Limited, UK and ITIXA limited to hold 50.1% and 49.9% shareholding respectively, in the proposed JV entity with equal participation in the Board of Directors. The location of incorporation of the entity shall be in GIFT City, Gujarat.
    Whether the said parties are related to promoter / promoter group / group companies in any manner. if yes, nature of relationship.No
    Whether the transaction would fall within related party transactions? if yes, whether the same is done at "arm's length"No
    In case of issuance of shares to the parties, details of issue price, class of shares issued.N.Α.

     

    The location of incorporation of the entity shall be in GIFT City, Gujarat.

    Alpha Desk
    first published: Aug 21, 2025 04:40 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347