Megasoft Limited — Board Meeting, 01-07-2025: Outcome of Board Meeting

Megasoft has announced a board meeting approving the sale of its 36.52% stake in Swiss associate Extrovis AG to Refex Life Sciences Pvt Ltd for about INR 128.40 Cr (subject to forex variations). This stake sale is expected to complete post execution of definitive agreements and shareholder approval via postal ballot. While Extrovis’s losses have been reflected proportionately in Megasoft’s consolidated financials, this deal will streamline the company’s focus by exiting a non-core investment. The buyer is unrelated to Megasoft’s promoter group.