KLG Systel Inks Investment Pact With IBM Daksh; Stock Up 7%
Gurgaon-based KLG Systel Ltd has signed an Investment Agreement with 
IBM Daksh Business Process Services Pvt Ltd (IBM Daksh) for investment of Rs 12 crore in its subsidiary viz. KLG Power Ltd.
The subscription Price is Rs 608.96 per share for 1,97,057 Equity Shares of Rs 10/- each, equivalent to 1.19% of the total share capital of KLG Power Ltd on fully diluted basis.
The company said that the Investment shall be made only on fulfillment of conditions precedent in the Investment Agreement.
KLG Systel Limited provides software-based solutions for product design and engineering, plant design and engineering, plant automation, project management, and power. The company has additional offices in Calcutta, Bangalore, Mumbai, Chennai, Jamshedpur, and Vadodara, India.
The company shares ended 7 percent up at Rs. 316 in the Mumbai market. The stock makes intraday high of Rs 335 and low of Rs 300.
