63 Moons Technologies Limited has decided to sell its ODIN, MATCH, and STP-GATE businesses to Synapsewave Innovations Private Ltd (SIPL) for ₹135 crore.
SIPL is involved in computer programming, consultancy, and related businesses.
In filings to BSE and NSE, 63 Moons said the sale is subject to approval from regulatory authorities, courts, and shareholders.
The Mumbai-based technology firm said its board of directors has initiated and approved the sale of Open Dealer Integrated Network (ODIN) and Order Management System (OMS) to Synapsewave Innovations for ₹98 crore.
It clarified that a committee appointed by the National Company Law Tribunal (NCLT), which includes a Ministry of Corporate Affairs (MCA) nominee and a retired Supreme Court Judge with individual veto powers, also approved the sale.
The sale is also subject to the approval of the designated court under the Maharashtra Protection of Interest of Depositors in Financial Establishments Act, 1999, and shareholders and other regulatory and statutory approvals, it added.
63 Moons said the company board has also initiated the sale of its Members Accounting and Trade Confirmation House (MATCH) and other services and components businesses to Synapsewave Innovations for ₹36 crore.
It said the board approved the sale of Straight Through Processing Messaging Solution, which enables post-trade straight-through settlement of obligations (STP-GATE) for brokers and fund houses, to Synapsewave Innovations for ₹1 crore.
The sale is subject to regulatory, statutory, and other approvals, and ₹135 crore will be received on completion of the transactions, the company filings showed.