Hilltone Software and Gases Ltd. Board Approves Investment in Rzolut Technologies, Reports IT Division Growth
Hilltone Software and Gases Limited announced on March 30, 2026, that its Board of Directors has granted in-principle approval for a potential investment in Rzolut Technologies Pte. Ltd., a Singapore-based company specializing in data products for risk and compliance. The company also reported positive developments within its IT division.Rzolut Technologies, established in Singapore on August 29, 2022, focuses on developing data solutions for KYC, TPRM, and M&A processes. The company owns a subsidiary in India, Rzolut DataStream Private Limited, incorporated on October 3, 2023. According to company information presented to the Board, Rzolut achieved a turnover of approximately Rs. 5 crore in the financial year 2024-25.
Hilltone Software may acquire approximately 5% of the stake in Rzolut, contingent upon valuation and due diligence findings. The Board believes this investment has the potential to enhance Hilltone’s valuation and boost its IT vertical while facilitating entry into the data solutions market.
Niket Shah was authorized by the Board to appoint an approved valuer and consultants to conduct the due diligence. A report detailing the outcome will be presented at a subsequent Board meeting before a final investment decision is made.
IT Division Updates
The company’s IT division secured a renewal of an application license based on the 'Joget' platform for Rs. 43.89 lacs with a subsidiary of a large Indian Bank. This license renewal follows customer satisfaction with the previously installed system.Furthermore, the IT division is executing an update and migration project for Versante Health, a U.S.-based health insurance company, valued at US $25,000 (approximately Rs. 23 lacs). A 30% advance payment has been received, with the remaining balance tied to achieving specific milestones.
The Board expressed its appreciation for the performance of the IT division.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.