Xchanging Solutions in spotlight

Xchanging Solutions hit an intra day at Rs.82, enticingly close to its 52-week high of Rs.82.75, hit yesterday. It has been consistently hitting new highs for the past couple of days, hitting the upper circuit. Compared to the other days, today’s rise is muted as no UC nor a high has yet been made.

Yesterday, the Board of the company met and decided to go ahead with the delisting of the shares from the BSE and NSE.

Prior to this, Computer Sciences Corporation had concluded the mandatory open offer following indirect acquisition of controlling stake in its parent Xchanging Plc.

Computer Science had made the offer at Rs.37.63/share to shareholders of Xchange. This was to get its 25% stake in the company, which incidentally means mopping up the entire 25% public shareholding.