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Ybrant Digital lists on BSE with the symbol YBRANTDIGI; gains 7.65% on debut

Hyderabad-based digital media firm Ybrant
Digital
has listed on the Bombay Stock Exchange and began trading with the
symbol YBRANTDIGI. This happened following the approval of its merger with LGS
Global Limited Limited by The High Court of Andhra Pradesh. The company gained

Hyderabad-based digital media firm Ybrant
Digital
has listed on the Bombay Stock Exchange and began trading with the
symbol YBRANTDIGI. This happened following the approval of its merger with LGS
Global Limited Limited by The High Court of Andhra Pradesh. The company gained
7.65 per cent to Rs 94.95 on debut. At this price, the company commands a
market cap of Rs 4,522 crore or $822 million.

Suresh Reddy, Chairman and MD, Ybrant
Digital said, “This is a significant event in the history of Ybrant Digital. We
look forward to the continued cooperation of our  shareholders, partners and other
stakeholders.”

Ybrant Digital had announced its merger
with IT services firm LGS Global Ltd to create a global digital marketing
powerhouse. The share exchange ratio for the merger was 6 equity shares of LGS
of Rs 10 each, for every 1 equity share of Ybrant of Rs 10 each.

The combined consolidated provisional revenues
are put at Rs 1,320 crore and the profit after tax at Rs 190 crore for the
financial year ended March 31, 2012.

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