|
Piscis Networks is an OEM engaged in the business of providing SD-WAN solutions (Software Defined Wide Area Network) to organizations to improve their network performance, reliability and security. Its turnover for financial year 2022-23 was Rs 98.10 Lakh.
The investment will enable the company to offer integrated solutions to its customers in improving their network performance, reliability and security and also opens up new business opportunities for the company.
The initial investment is of Rs 99,99,100 in cash, to subscribe 1,111 equity shares of Rs 10 each (representing 9.09% of the paid-up capital of Piscis Networks), The balance investment shall be made in cash in one or more tranches to increase the company's shareholding upto atleast 30% of the paid-up share capital of Piscis Networks through transfer from Promoters of Piscis Networks.
Proposed investment (aggregating upto 30% of the paidup capital of Piscis Networks) shall be completed within 120 days from the date of execution of the agreement.
NELCO engaged in providing end to end networking solutions (Satcom Projects) services, sale/rental of VSATs and maintenance of private hubs and hybrid networks for its customers (Equipment business and related services).
The company's consolidated net profit surged 86.8% to Rs 5.66 crore in Q4 FY23 as compared with Rs 3.03 crore in Q4 FY22. Revenue from operations jumped 14.4% year on year to Rs 81.98 crore in Q4 FY23.
|