DRC Systems, demerged entity of Infibeam Avenues, debuts on NSE & BSE

Infibeam Avenues received approval from National Company Law Tribunal (NCLT) on November 27, 2020, to demerge its theme park & events business to DRC Systems, which came into existence in 2012.

March 10, 2021 / 11:59 AM IST
 
 
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Shares of DRC Systems India - the demerged entity of Infibeam Avenues - debuted on Indian bourses on March 10. The shares opened at Rs 128.75 on BSE and at Rs 128.80 on NSE.

".... effective from March 10, 2021, the equity shares of DRC Systems India are listed and admitted to dealings on the exchange in the list of 'T' group securities," the company said in a BSE filing.

Infibeam Avenues received approval from National Company Law Tribunal (NCLT) on November 27, 2020, to demerge its theme park & events business to DRC Systems, which came into existence in 2012.

Shareholders of Infibeam will get one equity share of Rs 10 each of DRC as fully paid-up for every 412 equity shares of Rs 1 each. The record date for this purpose was December 11, 2020.

DRC Systems India offers a vast range of customised IT solutions and consultancy services to clients in India and abroad.

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"From the embryonic stage to the successful implementation stage, which includes development, maintenance, testing and all related ancillary services, the company enables clients with robust, scalable and lasting solutions," the company stated.

"We are focused on innovation and creativity to lead the change, since its advent in 2012," it said.

Shares of Infibeam Avenues rose over 3 percent in the morning trade on BSE.
Moneycontrol News
first published: Mar 10, 2021 11:59 am

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