Bengaluru: Software major Infosys Ltd on Friday announced forming a joint venture (JV) with Saudi Prerogative Company (SPC) to provide IT services to customers in the kingdom.
"The investment will be $312,671 (Rs 21 million) in cash in the equity share capital of the joint venture," the IT major said in a regulatory filing to the BSE.
The joint venture will be in the ratio of 70:30 and the agreement is subject to the approval of the Saudi Arabian General Investment Authority.
The outsourcing firm will, however, not have any shareholding in the Saudi firm.
Bengaluru: Software major Infosys Ltd on Friday announced forming a joint venture (JV) with Saudi Prerogative Company (SPC) to provide IT services to customers in the kingdom.
"The investment will be $312,671 (Rs 21 million) in cash in the equity share capital of the joint venture," the IT major said in a regulatory filing to the BSE.
The joint venture will be in the ratio of 70:30 and the agreement is subject to the approval of the Saudi Arabian General Investment Authority.
The outsourcing firm will, however, not have any shareholding in the Saudi firm.
Bengaluru: Software major Infosys Ltd on Friday announced forming a joint venture (JV) with Saudi Prerogative Company (SPC) to provide IT services to customers in the kingdom.
"The investment will be $312,671 (Rs 21 million) in cash in the equity share capital of the joint venture," the IT major said in a regulatory filing to the BSE.
The joint venture will be in the ratio of 70:30 and the agreement is subject to the approval of the Saudi Arabian General Investment Authority.
The outsourcing firm will, however, not have any shareholding in the Saudi firm.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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