Mastek has surged over 12% to Rs 445 after the company said its US susbidiary Majesco, USA ( formerly known as MajescoMastek) has filed Form S-4, a Registration Statement under the Securities Act of 1933, with Securities and Exchange Commission (SEC) of United States of America, for the proposed merger of Cover-All Technologies Inc. with Majesco and listing of Majesco on NYSE-MKT.
Further, a copy of the S-4 document and Management Update presentation made to Cover-All Technologies Inc. shareholders on Majesco as a combined entity has been submitted to the BSE, the company said in a statement.
The stock opened at Rs 396 and touched a high of Rs 443. At 1PM, over 880,000 shares were traded on both the stock exchanges
