SoftTech Engineers jumps as its arm subscribes stake in SoftTech Digital Software

SoftTech Engineers is currently trading at Rs. 143.90, up by 2.60 points or 1.84% from its previous closing of Rs. 141.30 on the BSE.

The scrip opened at Rs. 145.70 and has touched a high and low of Rs. 145.70 and Rs. 143.90 respectively. So far 12 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 189.60 on 23-Jan-2023 and a 52 week low of Rs. 88.35 on 28-Jun-2022.

Last one week high and low of the scrip stood at Rs. 149.10 and Rs. 136.95 respectively. The current market cap of the company is Rs. 146.15 crore.

The promoters holding in the company stood at 37.81%, while Institutions and Non-Institutions held 0.09% and 62.09% respectively.

SoftTech Engineers’ subsidiary — SoftTech Digital Pte. has acquired subsidiary with name SoftTech Digital Software in the Emirates of Dubai, UAE on April 10, 2023. The objective of acquisition is for international market penetration of SoftTech’s products established in India, creating sales and implementation network in Middle East and neighbouring areas and for creating strategic partnerships / business arrangements to sell its products and services to regions managed and operated by this Subsidiary. Business of the Subsidiary is in line with the main business activities of the Company.

SoftTech Digital Pte. has subscribed 100,000 shares of United Arab Emirates Dirham 1.00 each equivalent to United Arab Emirates Dirham 100,000 of the subsidiary.

SoftTech Engineers is a software company which caters to the Architecture, Engineering, and Construction (AEC) verticals.