Hyderabad: Privately held digital marketing company Ybrant Digital Ltd is merging with listed entity LGS Global Ltd in an all-stock transaction, the two Hyderabad-based firms said on Monday.
The swap ratio will be six LGS shares for every one share of Ybrant, they said in a statement. The merger is subject to regulatory approvals from Indian stock exchanges and the high court of Andhra Pradesh.
“This is a decisive move that accelerates our strategy and positions us to win by offering even greater value to our customers and partners,” said Suresh Reddy, chairman and chief executive officer of Ybrant.
LGS Global shares rose Rs0.45, or 0.89%, to Rs51 on the Bombay Stock Exchange even as the benchmark Sensex gained 117.13 points, or 0.64%, to 18,314.33. The announcement was made after the close of trading.