The company made the announcement after market hours on Friday, 2 December 2011
Meanwhile, the BSE Sensex was down 66.93 points, or 0.40%, to 16,779.90
On BSE, 8,088 shares were traded in the counter compared with the average volume of 14,433 shares in the past one quarter.
The stock hit a high of Rs 82.50 and low of Rs 80 so far during the day. The stock had hit a 52-week high of Rs 218 on 2 December 2010 and a 52-week low of Rs 73 on 23 November 2011.
The stock had underperformed the market over the past one month till 2 December 2011, falling 10.52% compared with the Sensex's decline of 3.54%. The scrip had also underperformed the market in past one quarter, declining 17.09% as against 0.15% rise in the Sensex.
The small-cap software firm has an equity capital of Rs 13.49 crore. Face value per share is Rs 5.
Mastek said the High Court approval was granted on 2 December 2011.
Mastek reported a consolidated net loss of Rs 27.28 crore in Q1 September 2011, higher than a net loss of Rs 7.70 crore in Q4 June 2011. Net sales rose 7.73% to Rs 155.33 crore Q1 September 2011 over Q4 June 2011.