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Polaris Financial Technologies has dipped 15% to Rs 210 on National Stock Exchange (NSE) after the stock turn ex-scheme of arrangement today.
The stock opened at Rs 200 and hit a low of Rs 190 so far. A combined 117,000 shares changed hands on the counter on NSE and BSE.
The mid-sized IT firm has fixed October 10, 2014 as the Record Date for the purpose of determining the list of shareholders who are entitled to receive the shares in Intellect Design Arena Limited, the resulting company after the demerger.
In line with the demerger, every shareholder of Polaris Financial Technology will receive one share of Intellect.
Polaris Financial Technology will continue to run the services business with a strong vertical and solution focus.
The stock opened at Rs 200 and hit a low of Rs 190 so far. A combined 117,000 shares changed hands on the counter on NSE and BSE.
The mid-sized IT firm has fixed October 10, 2014 as the Record Date for the purpose of determining the list of shareholders who are entitled to receive the shares in Intellect Design Arena Limited, the resulting company after the demerger.
In line with the demerger, every shareholder of Polaris Financial Technology will receive one share of Intellect.
Polaris Financial Technology will continue to run the services business with a strong vertical and solution focus.
