NEW DELHI: IT company HCL Technologies said its board has approved the scheme for merger of four of its subsidiaries, including HCL Comnet, with itself. The scheme was approved by the board of directors of the subsidiaries in their respective meetings Friday, HCL Tech said in a regulatory filing. The proposal to merge HCL Comnet, HCL Eagle, HCL Technologies Solutions and Concept2silicon Systems into HCL Technologies was approved by the latter's board on Thursday. All these companies are direct or step-down wholly-owned subsidiaries of HCL Tech. The filing added that HCL Comnet, which is engaged in the business of rendering data communications services, had revenue of ₹310.6 crore, while Concept2silicon Systems had a topline of ₹2.99 crore for the year ended March 2018.

Source: Mint May 10, 2019 15:33 UTC