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About Covance Softsol Ltd Covance Softsol Limited, a public limited company incorporated on August 11, 2023, in Telangana, operates in the Information Technology (IT) and IT-Enabled Services (ITES) sector. Initially, the company had no business activities until it became the beneficiary of a court-sanctioned Scheme of Arrangement with Softsol India Limited.
As per the Hon'ble NCLT, Hyderabad bench's order dated September 12, 2024, the IT/ITES business of Softsol India Limited was demerged and transferred to Covance Softsol Limited as a going concern with effect from April 1, 2023. This restructuring was finalized on September 25, 2024, marking the official commencement of Covance Softsol's operations in the IT/ITES domain. Equity shares totaling 1,47,63,689 at a face value of Rs. 10 each were allotted to eligible shareholders of Softsol India Limited as part of this arrangement.
Positioned as a newly-constructed entity with inherited business assets, Covance Softsol Limited is now focused on delivering IT and ITES solutions. Its foundation in the demerged operations of Softsol India Limited provides the company with a business lineage and client base to build upon.