Clear expects up to $100M revenue from Middle East expansion in 5 yrs
IT company Clear, which focuses on online tax filing, expects to generate $100 million from the Middle East business expansion led by Saudi Arabia and the UAE that are gradually moving towards taxation regime, a top official of the company said.
Clear chief business officer Rohit Razdan told PTI that the company is planning to invest in the range of $15-30 million in the next two years to build capacity in the Middle East, specially in expanding the team size.
Kotak Securities acquires 7.50 percent stake in Entroq Technologies
Kotak Securities Ltd (KSL), a subsidiary of Kotak Mahindra Bank Limited, said it’ll acquire a 7.50 percent stake in Entroq Technologies Private Ltd (ETPL), for Rs 3 crore.
“Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank Limited (Bank), has entered into a definitive agreement with Entroq Technologies Private Limited (ETPL) dated December 17, 2021, for acquiring 7.50% in the total share capital of ETPL,” Kotak Securities said in a stock exchange statement.
The acquisition will be carried out in terms of primary share issuance of 100 equity shares and 10,568 cumulative compulsorily convertible preference shares to Kotak Securities for ₹3 crore.
