Sonata Software Ltd Share Price

Summary

Sonata Software Limited (SSL) was incorporated on October 18, 1994. The Company is primarily engaged in the business of delivering Information Technology (IT) Services and Software Solutions to its customers in the US, Europe, Middle-East, Asia - Pacific, Australia and India. Besides, the Company distributes products from global technology companies present in India. 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 aggregating to Rs 22.70 Crs.Sonata is giving more importance in specific areas in R&D centre, like Focus in Technology, Software Engineering, Productizing and Branding Services. For a technology company having strong alliance with Global IT companies like Microsoft, Oracle & Lotus to access to technology by participating in beta programme
Read More