Mastek to trade sans insurance arm

Beginning Friday the stock of Mastek will be traded without the insurance business, which will be demerged to Majesco. The record date for the demerger has been fixed at June 15. Mastek’s subsidiary Majesco is all set to debut on the NYSE in the next few days and in the domestic market by August. The swap ratio has been fixed at 1:1, which means each Mastek shareholder as on the record date will get one Majesco share.