eMudhra Limited has informed the exchanges that the State of Delaware, USA has approved the merger of Sendrcrypt Technologies Inc, USA, a wholly owned step-down subsidiary of the Company, with its holding company, eMudhra Inc, a wholly owned subsidiary of the Company, on September 10, 2024.
For the year ended March 31, 2024, eMudhra Inc and Sendrcrypt Technologies Inc reported revenues of USD 16.14 million and USD 0.5 million, respectively. Both eMudhra Inc and Sendrcrypt Technologies Inc offer technological services and solutions.
In the exchange filing, the company shared, “The transaction is between two wholly owned subsidiaries of the Company. Hence, it is exempted as per Regulation 23(5)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”
