Decks have been cleared for the listing of Ybrant Digital on the Bombay Stock Exchange.
"The board of directors of Ybrant has taken cognisance of the amalgamation of Ybrant Digital and LGS Global as directed by the High Court of Andhra Pradesh," the company said here in a statement on Thursday.
The name of the amalgamated entity has been changed from LGS Global to Ybrant Digital. The face value of the share has been changed from Rs 10 to Rs 2.00 for accounting purposes. Trading of the stock “LGS Global” has been temporarily suspended due to the procedural reasons to accommodate the changes stated.
Ybrant, a privately held firm, has bought the BSE-listed software services company LGS Global last year. The statutory clearances from the court and stock exchange would pave the way for Ybrant to get listed on the BSE.
Ybrant recently bought Rs 1,500-crore business from Experian in May this year.
The new board of directors of the company include Mr Suresh Kumar Reddy M (Chairman and Managing Director), Mr Ramakrishna Vijay Kumar K (Executive Director) and Mr Vijay Bhasker Reddy M.