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Why Majesco shares are falling?
On Tuesday, shares of Majesco declined as investors chose to sell, rather than be taxed for dividend income. The stock was down by half a percent a day after the company announced an interim dividend of Rs 974 per share for the financial year 2020-21.
Is Majesco a good buy in 2021?
10 best-performing smallcaps of 2021: Majesco tops with 387% gains; here’s the complete list. Broader markets have been outperforming benchmark indices in 2021. So far this year, the smallcap index has risen over 34 percent compared to a 9 percent rise in the benchmark Sensex.
Why Majesco give so much dividend?
Why such huge dividend payout? Dividends paid by Majesco in recent years hovered in the range of Re 1 to Rs 2 per share. However, the company decided to sell the business. The sale proceeds after accounting for expenses and capital gains tax, led to cash accumulation of Rs 1028 per share in its books.
Why Majesco is increasing?
Why Has Majesco Declared Such a High Dividend? The main reason for this is because the insurance technology firm had sold one of its business units- Majesco US- to Thoma Bravo, a private equity firm. The sale proceeds after accounting for expenses and capital gains tax had been Rs 3,853.3 crore!
Is Majesco split?
Aurum Proptech Ltd. has not split the face value of the share since Jan 1, 2000. Is Majesco Ltd.
Who is taking over Majesco?
Aurum Ventures Pvt. Ltd
Aurum Ventures Pvt. Ltd has signed a pact to buy out Mumbai-listed Majesco Ltd’s controlling shareholders, eight months after Chicago-based private equity firm Thoma Bravo acquired the Indian company’s main US business.
Who takes over Majesco?
Is Majesco delisted?
Originally a Mastek subsidiary, Majesco had listed on stock exchanges in 2014 as an insurance-technology services provider. When shareholders approve Majesco’s name change at its annual general meeting on September 6, 2021, it will be rechristened Aurum Proptech.
Will Majesco pay dividends in 2021?
The board of directors of Majesco, at its meeting held on December 15, 2020, had approved an interim dividend of Rs 974 (19,480 per cent) per equity share of face value of Rs 5 each for the financial year 2020-2021.
Who buys Majesco?
Aurum Ventures Pvt. Ltd has signed a pact to buy out Mumbai-listed Majesco Ltd’s controlling shareholders, eight months after Chicago-based private equity firm Thoma Bravo acquired the Indian company’s main US business.
Is Majesco delisting?
In an earnings call on August 14, 2020, Farid Kazani—then Majesco’s Managing Director—said the company would distribute the cash it got to its shareholders. “The ultimate process will be in doing the compulsory delisting and dissolution,” Kazani said, referring to Majesco’s Indian entity.
Is Majesco company closing?
Following the closing of the transaction, Majesco will operate as a privately-held company,” the company said in a press release. Majesco US has decided to sell its company to a private equity, Thoma Bravo, LP at $13.1/share, valuing the company at $594 million (Rs 4,455 crore).
What happen with Majesco?
Majesco Ltd announced that its Board of Directors had approved payment of interim dividend at the rate of 19,480% for the financial year 2020-21! This means that the company will pay Rs 974 per equity share of the face value of Rs 5 each.