Majesco hits new high, slips

Majesco, which had closed yesterday at Rs.782.80, opened over 2% higher at Rs.799.80 and went up further to hit a new high at Rs.802.95. It slipped from there and is now in the red, down over 1% at Rs.773.

The stock price continued to react over the revised price from PE firm, Thoma Bravo.

The company’s US arm signed an amended agreement with Thoma Bravo, revising the price upwards from earlier offer of $13.1/share to $16/share. This pegs the value of the company now at $729 million.

This hike in the offer price happened after Majesco is said to have received another proposal for acquisition from another company.

Shareholders of Majesco are happy as the company had stated that it will distribute the amount among shareholders either via dividend or buyback.