Bombay (Maharashtra) [India]May 27 (ANI / NewsView): Investment Advisor of Infinity Investment Management (‘Infinity’), Convergent Finance LLP, to Onward Technologies Limited (‘Onward Tech’) up to Rs 702 million (US $ 9.6 million) Investment announced. A pioneer in the fields of R&D engineering, digital transformation and IT consulting services.
The investment configured as a subscription of shares and warrants priced under applicable SEBI regulations amounts to 702 million rupees (US $ 9.6 million), with approximately 24.78% stake on a fully diluted basis. You can have it. Normal closing conditions, including shareholder approval, apply.
Founded in 1991, OnwardTech serves global clients in a variety of industries, including transportation mobility, heavy industrial equipment, and the health medical device industry. The employees are made up of more than 2,000 employees working in India, the United States, the United Kingdom and Europe.
The company conducted an IPO in 1995 and provides a variety of mission critical services such as product design and development, electronics, and virtual simulation services. The company recently introduced digital service lines such as big data analytics, cloud services, Internet of Things (“IoT”) and automation.
Harsha Raghavan, Managing Partner of Convergent, said: “Onward Tech is one of the oldest and most established IT services companies, founded by visionary Harish Mehta, a pillar of India’s IT services industry since the 1970s. In the digital age, we are very happy to partner with the Onward Tech team led by Harish’s son, Jigger Meta. At Convergent, our motto is always to help large companies become global leaders. WordTech proves it: leveraging global networks, strategic insights and operational expertise to transform OnwardTech into a global leader in R&D engineering and digital transformation. ”OnwardTech Founder Harish Meta, Executive Chairman, said: Organizations around the world are realizing the need for technology. Looking forward to exciting opportunities, we look forward to partnering with Convergent in the next phase of or. “This investment is a vote of confidence in Onward Tech and reinforces the enormous growth underway within the organization. Hasha and his team are worth it, ”said Jigger Meta, Managing Director of Onward Tech. We have an excellent track record of creativity and look forward to working closely with our Convergent team. “Convergent Finance LLP brings together ideas, capital and passionate entrepreneurs for frontline investment management and advisory partnership. The convergent investment process involves identifying a single platform and a constant focus on improving opportunities, speed of execution and performance. The convergent value investment approach has been negotiated bilaterally. We believe in paying a fair and reasonable valuation in our transactions.
Onward Technologies is a niche digital engineering services company providing mechanical engineering, integrated electronic system development, digital conversion of data analysis, robotic business process automation services to global companies.
The company has grown into a strong team of 2,000 full-time employees with offices in Mumbai, Pune, Chennai, Bangalore, India, Chicago, Troy, Cleveland, USA, London (UK) and Frankfurt (Germany). I am.
This story is provided by NewsView. ANI is not responsible for the content of this article. (ANI / NewsView)