Megasoft Limited has informed the Exchange regarding Notice of Postal Ballot
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Awaiting price reaction for this filing.
Megasoft Limited is seeking shareholder approval via postal ballot to sell its entire 36.52% stake (80,000 equity shares) in Swiss associate Extrovis AG to Refex Life Sciences Private Limited for US$15 million (approximately ₹128.40 crore). The Share Purchase Agreement was signed on July 2, 2025, and the deal is expected to close in 60–90 days, subject to shareholder and other approvals. The company cites Extrovis AG's declining performance and erosion of investment value as the reason for the sale. Sale proceeds will be redeployed into growth opportunities in the Aerospace and Defence sector and for general corporate purposes. The e-voting window runs from July 8, 2025 to August 6, 2025, with results to be declared within two working days after that.
Shareholders need to vote on this special resolution by August 6, 2025; the deal would unlock roughly ₹128 crore for Megasoft's pivot into Aerospace and Defence, which could be a positive re-rating catalyst if executed well, though removal of the Extrovis revenue stream may affect short-term income.