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Mauritius based Intel Capital reduces its stake in Intrasoft Technologies by 50%

Intrasoft Technologies

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IntraSoft Technologies Limited is in the business of providing back ended IT Enabled Services to its subsidiary companies.

Its E-commerce subsidiary www.123stores.com focuses on the US Online Retail market and was ranked as the 392nd largest Internet Retailer in USA as well as the 13th fastest growing Internet Retailer in the 2015 Top 500 Internet Retailer Guide.

They sell approximately 310,000 products from over 1,500 brands on the Internet under the brand name “123Stores”. The company’s E-greetings subsidiary www.123greetings.com is the world’s leading online destination for human expressions reaching 95 million visitors annually. It also operates 123Greetings Studio, a unique platform for artists, to upload and monetize their own ecards.

Intrasoft Technologies Share Price May 2016

Intel Capital (Mauritius) which held 1,534,764 shares or 10.42% reduced its stake by 5.09%. Intel sold 750,000 shares or 5.09% thereby bringing its stake down to 784,764 shares or 5.33%.

Intel Capital had invested a sum of Rs. 20 Crore in 2007 through convertible preference shares. Intel held around 16.3% currently which got reduced to 12.2% post IPO in 2010.

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