Silverline Technologies LimitedImage Credit source: ai generated
The fame of Indian IT and software companies is now being heard all over the world. Foreign investors are constantly eyeing those Indian companies which are doing something new in the field of technology and digital transformation. A big news has come out in this episode. A leading firm of United Arab Emirates (UAE) has expressed confidence in Silverline Technologies, a software solutions providing company. There is news that a foreign company is planning to buy a large stake in Silverline.
Big plan to raise Rs 80 crore
Silverline Technologies is now preparing to raise big funds to expand its business. The company plans to raise around Rs 80 crore from the market. An important meeting of the company’s board of directors has been called on 18th February. The proposal for Strategic Equity Investment will be seriously considered in this meeting. According to experts and the company, if this deal is confirmed, then the total post-money valuation of the company after investment can reach around Rs 400 crore.
Plan to buy equity stake up to 20 percent
UAE company ‘Trueledger Technologies FZE’ has shown keen interest in Silverline. TrueLedger has expressed its desire to buy up to 20 percent equity stake in the company. In this regard, he has also sent a non-binding letter of intent (LoI). The company is considering giving this 20% stake on preferential basis. The company will use the proceeds from this investment to improve its balance sheet, accelerate new projects and strengthen its hold in the field of technology.
Management’s full focus on company’s growth
According to the information given to the stock market, in the next board meeting the company will also take a decision on the appointment of a SEBI registered independent valuer and professional advisors. This step is being taken so that the deal is done with complete transparency and the correct price of the company can be decided.
Yakin Joshi, Managing Director and CFO of Silverline Technologies, has reacted positively to this development. He says that the company is evaluating the proposal received from TrueLaser Technologies. According to him, this potential deal is a big step towards creating long-term value for shareholders. The entire focus of the management is on taking the company to the next phase of scalable growth i.e. expansion.
New technology showed wonders
Not only investment, the company is also performing well at its product level. Recently the company launched ‘Silver AI’, which has received an excellent response from users. In the very first week of launch, more than 24,000 registered users have joined it.
