Polaris Software Lab sold its stake in one of AIG Group companies AIG SS in which it was a joint venture partner holding 20 per cent stake for Rs 23.26 crore. The deal would also give a boost to Polaris’ bottomline this year. Polaris had entered into the JV with AIG for holding the 20 per cent stake in AIG SS for Rs 3.26 crore in 2002. This sale leaves a profit on sale of investment of Rs 20 crore for Polaris on a standalone basis and Rs 13.21 crore on consolidated basis.
Wednesday, August 6, 2008
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