Small-cap stock below ₹100: Paramatrix Technologies share price surged as much as 18 per cent to ₹89.50 apiece on National Stock Exchange (NSE) in Thursday's trading session.
The small-cap stock rallied after the company announced that Paramatrix Technologies Limited, Hong Kong, a wholly-owned subsidiary of Paramatrix Technologies Limited (India) has approved the acquisition of a 51 per cent stake in Paramatrix Technologies KK, a company incorporated in Japan.
Acquistion details
Under the agreement, Paramatrix Technologies Limited, Hong Kong, will acquire 510 equity shares at a price of ¥10,000 (approx. ₹5,723) per share from Mr. John Zendano, the sole shareholder, for a total consideration of ¥5.1 million (approx. ₹29 Lakhs). This acquisition is part of the company’s plans to expand its international operations and establish a presence in new markets.
Paramatrix Technologies KK was incorporated in September 2024 and operates in the Information Technology sector. While the company has yet to commence business operations, this acquisition is expected to support future business activities and collaborations in Japan.
The transaction has received approval from the Ministry of Economy, Trade and Industry, Japan. The payment for the acquisition is expected to be completed by 5th April 2025. This acquisition reflects Paramatrix Technologies Limited’s commitment to expanding its geographical presence and exploring new business opportunities in international market.
“This acquisition marks an important step in our efforts to expand internationally. Japan is a well-established technology market with strong growth potential, and this move enables us to establish a presence in the region. We aim to leverage our expertise to build long-term value and remain focused on steady growth while strengthening our global operations in a structured manner," said Mukesh Thumar, Founder, MD & CE0 of Paramatrix Technologies Limited.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
