MUMBAI: Spice Ltd has sold its 48.22 per cent stake in Spice Systems Ltd (SSL) to B K Modi controlled MCorpGlobal.
The move would give MCorpGlobal 96.27 per cent control in SSL, engaged in office automation.
McorpGlobal acquired 81.50 lakh shares of Spice Systems through 'inter-se transfer' on March 31, a regulatory filing on the BSE shows.
Spice Ltd (formerly known as Spice Net) manufactures servers, PCs and other equipments.
McorpGlobal's focus and strategy is on expanding the scope of its operations to various businesses like real estate, health care, telecom & IT, finance & asset management,
Earlier on April 2, Spice Ltd in a meeting had said that its Board of Directors has approved the sale of 81.50 lakh shares, constituting 48.22 per cent holding in SSL at Rs 13 per share.
