Announcement under Reg 30 of SEBI LODR
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Hilltone Software and Gases Ltd's board met on March 30, 2026 and gave in-principle approval to invest in Singapore-based Rzolut Technologies Pte. Ltd. and its Indian subsidiary Rzolut DataStream Private Limited. Rzolut, a startup founded in August 2022, develops data products for KYC, TPRM, and M&A compliance and reported turnover of about Rs. 5 crores in FY24-25. Hilltone can acquire roughly 5% equity in Rzolut, subject to a satisfactory valuation and due diligence report from an approved valuer. The board also noted growth in the IT division, including a license renewal worth Rs. 43.89 lakhs on the Joget platform from a subsidiary of a large Indian bank, and a US$25,000 (~Rs. 23 lakhs) software migration contract from US health insurer Versante Health. The final investment decision is pending due diligence outcomes to be presented at a future board meeting.
Positive sentiment for shareholders as the company diversifies into the high-growth data and compliance solutions space, while existing IT vertical shows steady contract wins and renewals. Short-term stock impact may be limited since the investment is only ~5% and contingent on due diligence, but it signals management's intent to scale the IT business.