i-flex Solutions becomes subsidiary of Oracle
Mumbai, April 18: i-Flex Solutions Ltd has now become a subsidiary of Oracle Global (Mauritius) Ltd following the latter's latest acquisition of 3.2 per cent equity of the former. This in effect takes Oracle's holding in i-Flex to 50.60 per cent.
Informing BSE, i-flex Solutions said that as on March 28, Oracle Global (Mauritius) was holding 36,203,516 equity shares of the company aggregating to 47.50 per cent of the paid up equity capital of the company.
As informed by Oracle on April 14, it has during March 27, till April 13 this year, acquired 2,424,632 equity shares of the company amounting to 3.2 per cent of the paid up capital of the company.
Accordingly as per the disclosure made by Oracle, Oracle now holds 38,628,148 equity shares aggregating to 50.60 per cent of paid up capital of the company.