California Software Company Approves Exploration of Up to 51% Stake in Tech Aggregators Private Limited

California Software Company Approves Exploration of Up to 51% Stake in Tech Aggregators Private Limited​

California Software Company Limited announced that its Board of Directors approved a proposal to explore the acquisition of up to 51% equity stake in Tech Aggregators Private Limited, subject to the successful completion of various due diligence processes and negotiations. The decision was made during the Board meeting held on June 18, 2026.

The company has authorized the execution of a Memorandum of Understanding (MoU) with Tech Aggregators Private Limited. This MoU is intended to establish a framework for evaluating the proposed transaction and advancing further discussions between both organizations.

Following the board's decision, California Software Company Limited commenced authorizing comprehensive due diligence regarding Tech Aggregators Private Limited. The authorized investigations encompass legal, financial, tax, technical, operational, and compliance aspects. The company has also authorized the appointment of necessary professionals, including Registered Valuers, Chartered Accountants, Company Secretaries, Legal Advisors, and Due Diligence Consultants, to support the evaluation of the proposed transaction.

To drive the acquisition process, Dr. Vasudevan Mahalingam, Managing Director & CEO, and Mr. K. Venkatesh, Company Secretary, have been jointly authorized. Their responsibilities include executing the MoU, obtaining information and documents from Tech Aggregators Private Limited, coordinating the due diligence process, engaging advisors, negotiating transaction terms, and taking all required actions related to the proposed acquisition.

The company noted that the proposed transaction remains in a preliminary stage. The successful completion of the deal is contingent upon several factors, including: satisfactory completion of due diligence, independent valuation, final commercial negotiations, and subsequent approval of definitive transaction documents by the Board of Directors.

It was clarified that the execution of the Memorandum of Understanding does not create any binding obligation for either party to complete the proposed acquisition, and no final acquisition consideration has been determined at this stage.

Stock Price Movement​

Om Metallogic Ltd shares settled at ₹26.30 on Thursday, having ticked up by 4.99% from the previous close. The stock traded completely flat throughout the day, as its high and low were identical during the trading session.