Sonata Software incorporates wholly‐owned subsidiary in Ireland; Stock surges near 1%

The newly incorporated entity is yet to commence its operations.

Sep 15, 2021 01:09 IST India Infoline News Service

Sonata Software Ltd has informed that Sonata Software Intercontinental Limited (“SSIL”) has been incorporated in Ireland as a Wholly owned subsidiary of the Company with effect from September 08, 2021 to provide end‐to‐end solutions to Information Technology Services.

The authorized share capital of SSIL is EUR 100,000 (100,000 equity shares (Ordinary Shares) of EUR 1 each) for which no government/ regulatory approval is required.

The Company holds 100% shareholding of SSIL. The initial subscription in SSIL by the Company does not fall under the purview of Related Party transaction and the promoter/ promoter group/ group companies do not have any interest in SSIL, said company in a regulatory filing.

The newly incorporated entity is yet to commence its operations.

At around 1:53 PM, Sonata Software was trading at Rs855 apiece up by Rs6.25 or 0.74% from its previous closing of Rs848.75 apiece on the BSE.

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