Majesco share price locked in upper circuit on open offer by Aurum Platz IT

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Majesco share price was locked in 5 percent upper circuit on March 22 after Aurum Platz IT Private Limited made an open offer for acquiring up to 74,43,720 fully paid-up equity shares, representing 26 percent stake, of Majesco from the public shareholders.

The offer price is Rs 77 a share. Assuming full acceptance of the open offer, the total consideration payable by Aurum Platz will be Rs 57.31 crore, the company said in the press release.

There were pending buy orders of 2,461,641 shares, with no sellers available.

As per the December shareholding pattern, public shareholding in Majesco stood at 85.22 percent. At 1000 hours, Majesco was quoting at Rs 66.55, up Rs 3.15, or 4.97 percent on the BSE.

The share touched a 52-week high of Rs 1,019 on December 15, 2020 and and a 52-week low of Rs 12.20 on December 23, 2020. It is trading 93.47 percent below its 52-week high and 445.49 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 887.65 per share (December 2020). The stock's price-to-earnings (P/E) ratio was 0.07.

The book value of the company is Rs 188.34 a share. At the current value, the price-to-book value of the company was 0.35 and the dividend yield 3.01 percent.