Sonata Software Ltd - SONATA SOFTWARE Share Price

Summary

Sonata Software Limited (SSL) was incorporated in the year October 18th, 1994. The Company is primarily engaged in the business of delivering IT services and software solutions to its customers across the globe including the US, Europe, Middle-East, Asia - Pacific, Australia and New Zealand. Besides, the Company also distributes and re-sells products from global technology companies present in India. The Companys consolidated results comprises operations of Indian and overseas subsidiaries and operates under two distinct heads International IT services (IITS) and Domestic Products and Services (DPS). The Companys promoters viz. S B Ghia, P Srikar Reddy and Radhika Rajan have acquired the stake in SSL.Sonata,a division of IOCL was later spun off as an independent company namely, Sonata Software Ltd, in October 1994 for a consideration of Rs 8.14 crs. As a part of restructuring plan, IOCL was disposed of and sold its equity holding in SSL to the present promoters for a consideration of Rs 78 per share and Rs 87 per share based on the valuation certificate issued by IOCLs auditors and in consultation with financial institution.In September 1998, the company issued bonus issue at a ratio of 13 shares for every 10 shares held. To provide funds for expansion of the computing and communication infrastructure of software development facalities for exports at Bangalore, the company came out with the public issue of 25,22,000 Equity shares of Rs 10 each at a premium of Rs 80 per share... Read More