AI Penny Stock Under Rs 20 Surges on Non-Binding LoI for Strategic Investment and 20% Stake Sale
Kiran DSIJCategories: Penny Stocks, Trending
The company has a market cap of Rs 218 crore and the stock is up by 88 per cent from its 52-week low of Rs 7.42 per share.
Silverline Technologies Limited has received a non-binding Letter of Intent (LOI) from UAE-based Trueledger Technologies FZE. This LOI outlines a preliminary interest in a strategic investment involving a stake of up to 20 per cent in the Company, specifically aimed at providing strategic exposure to Silverline’s artificial intelligence–led initiatives. As the Company is a listed entity, any final transaction structure, valuation, or investment mode will be determined in strict compliance with applicable regulatory frameworks and remains subject to thorough review and approval by the Board of Directors.
It is important to note that this LOI is strictly non-binding and intended solely to facilitate exploratory discussions between the parties. At this stage, no definitive agreements have been executed, no valuation has been finalised, and there is no certainty that these discussions will lead to a concluded transaction. The Company remains committed to evaluating the proposal in accordance with all legal requirements and will provide further disclosures to the Exchange as material developments occur. Currently, this notification is made in the normal course of business and is not expected to impact the Company's immediate operations.
About the Company
Silverline Technologies Limited, founded in 1992, is a BSE-listed technology company with over 30 years of experience in delivering enterprise software solutions and digital transformation services. Based in Thane, Maharashtra, the firm maintains a global presence across countries, including the US, UK, Germany and Canada, serving both Fortune 500 and mid-market clients. The company operates across more than 12 industry verticals, such as healthcare, Banking and telecommunications, offering a diverse service portfolio that includes SAP consulting, cybersecurity and blockchain solutions. Most recently, Silverline has expanded into the artificial intelligence sector with the launch of "Silver AI," a proprietary multimodal web platform aimed at capturing a share of India’s growing AI market.
On Wednesday, shares of Silverline Technologies Ltd hit a 5 per cent Upper Circuit to Rs 13.97 per share from its previous closing of Rs 13.31 per share. The stock has a 52-week high of Rs 20.75 per share and a 52-week low of Rs 7.42 per share. The company has a market cap of Rs 218 crore and the stock is up by 88 per cent from its 52-week low of Rs 7.42 per share.
Disclaimer: The article is for informational purposes only and not investment advice.