Megasoft to sell 36.52% stake in Swiss arm Extrovis AG for $15 million
Published on 01/07/2025 09:17 PM
Megasoft to sell 36.52% stake in Swiss arm Extrovis AG for $15 millionMegasoft has announced the proposed sale of its entire 36.52% holding in Extrovis AG, Switzerland, to Refex Life Sciences for $15 million.By Sheersh Kapoor July 1, 2025, 9:17:07 PM IST (Published)1 Min ReadMegasoft Ltd on Tuesday said its board has approved the proposed sale of the company’s entire 36.52% stake in Extrovis AG, Switzerland, for a total consideration of $15 million (approximately ₹128.4 crore), subject to exchange rate fluctuations.
The deal is yet to be formalised, with the share purchase agreement (SPA) still pending execution. The sale will be completed in one or more tranches, the company said in its filing to the exchanges.
Refex Life Sciences Pvt Ltd will be the buyer, and it does not belong to Megasoft’s promoter or group companies. The transaction is not classified as a related-party deal and falls outside any existing scheme of arrangement. Megasoft also clarified that it will seek shareholder approval through a postal ballot in due course.
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Extrovis AG, being an associate company, does not contribute to Megasoft’s standalone financials. Only its losses have been accounted for on a proportionate basis at the consolidated level.
Ahead of the announcement, shares of Megasoft Ltd hit the lower circuit and ended 2% down at ₹107.27 on the NSE.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsshare market todaystake sale