PDS (NSE:PDSL, BOM:538730) has agreed to divest its entire shareholding of 42.1% in its associate company Digital Ecom Techno to Aapt Outsourcing Solutions for 87.9 million Indian rupees, according to a Wednesday filing to the Indian bourses.
Of the total, 22.6 million rupees will be received in one or more tranches for the sale of equity shares by the company to
Aapt Outsourcing Solutions.
The remaining amount will be through the redemption of optionally convertible redeemable preference shares of 10 million rupees. The transaction also includes the assignment of trademark and domain 'Qandle' and 'www.qandle.com' to Mynd for 55.2 million rupees.
Shares of the company were down over 3% in recent trade.
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