Morgan Stanley buys Vakrangee Softwares shares

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Mumbai, Sep 29 (UNI) Morgan Stanley has bought 325,000 shares of Vakrangee Softwares, a leading integrated document and printing management solutions provider, through the secondary market at the rate of Rs 189.95 per share.

The total Foreign Institutional Investors (FII) holding in the Company has increased to 49,65,964 shares represented by 25.93 per cent of equity capital.

Vakrangee Softwares, which is spearheading the Government's e-Governance drive, has increased the limit of investment by FIIs from 24 per cent to 49 per cent, a press release issued by Morgan Stanley said.

This is to facilitate greater FII investment in the Company. The raising of the FII investment ceiling would provide depth and liquidity to the Company's shares as well as reflect its commitment to the highest standards of disclosures, transparency and corporate governance, and its operational efficiencies, global competitiveness and proven management track record.


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