Rolta India's Promoters Increase their holding to over 50%

Rolta India Limited has announced that its Promoters have increased their share holding in the Company from around 40% to over 50% through creeping acquisitions over the last three years.

Rolta India conducts business in India, and internationally through subsidiaries in various countries. Rolta is a leading provider of innovative IT solutions built around its intellectual property for many vertical segments, including Federal and State Governments, Defence, Homeland Security, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare. The increased holding places Rolta in compliance with Indian Defence manufacturing/procurement guidelines that mandate that bidders have more than 50% holding in the hands of Indian promoters.

The Promoters continue to increase their holdings further through creeping acquisitions in line with SEBI guidelines. This is evidence of the confidence of the Promoters in the business model of the Company, the superiority of its offerings, and the growth potential of the Company.

Shares of Rolta India Ltd was last trading in BSE at Rs.71.30, up by Rs.0.55 or 0.78%. The stock hit an intraday high of Rs.72 and low of Rs.70.90.

The total traded quantity was 0.79 lakhs as compared to 2 week average of 4.14 lakhs.

Source : Equity Bulls

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