Hexaware Technologies’ Board approved a scheme of amalgamation between Softcrylic Technology Solutions India Private Limited, Mobiquity Softech Private Limited, and Hexaware. Additionally, the Nomination and Remuneration Committee was reconstituted, with Mr. Kapil Modi appointed as a member and Mr. Neeraj Bharadwaj stepping down. The merger aims to streamline operations, while the committee changes ensure effective governance.
Amalgamation Approved
The Board of Directors has given the go-ahead for the Scheme of Amalgamation involving Softcrylic Technology Solutions India Private Limited and Mobiquity Softech Private Limited with Hexaware Technologies Limited and their respective shareholders. This decision, made on December 18, 2025, follows an earlier communication on November 6, 2025.
Details of the Merger
The amalgamation will proceed through a merger by absorption under Sections 230 to 232 of the Companies Act, 2013. Softcrylic Technology Solutions India Private Limited (“Transferor 1 Company”) and Mobiquity Softech Private Limited (“Transferor 2 Company”) are Wholly Owned Subsidiaries of Hexaware Technologies Limited (“Transferee Company”).
Financial Overview of Transferor Companies
As of September 30, 2025:
- Transferor 1 Company: Turnover was Rs. 38.35 Crore, and Net Worth was Rs. 13.12 Crore.
- Transferor 2 Company: Turnover was Rs. 114.98 Crore, and Net Worth was Rs. 86.94 Crore.
Committee Reconstitution
The Nomination and Remuneration Committee of the Board has been restructured. Mr. Kapil Modi, Non-Executive Director, has been appointed as a member. Mr. Neeraj Bharadwaj, Non-Executive Director, is no longer a member of the committee.
Revised Committee Composition
- Mr. Milind Sarwate: Chairman, Independent Director
- Ms. Sukanya Kripalu: Member, Independent Director
- Mr. Joseph Mclaren Quinlan: Member, Independent Director
- Mr. Kapil Modi: Member, Non-Executive Director
Source: BSE
