Kale Consultants jumps over 18 pc on stake sale

MUMBAI: Shares of Kale Consultants zoomed over 18 per cent today after the company's promoters sold their entire 35.61 per cent stake to France-based airline solutions provider Accelya Holding World.

Shares of Kale Consultants rose 18.22 per cent in early trade to touch a one-year high of Rs 160.80 on the Bombay Stock Exchange.

The scrip witnessed a similar movement on the National Stock Exchange and soared by 14.67 per cent to Rs 164.50.

Meanwhile, the broader gauge Sensex was also trading higher by 277.61 points at 19,077.27.

The acquisition of Kale Consultants will make Accelya Group the world's largest solutions provider for back office processes related to the airline industry.

According to a statement issued by the company, the proposed deal is likely to trigger an open offer by Accelya to shareholders of Kale Consultants.

Following the transaction, Kale will remain a public listed company. Vipul Jain will continue to be the Managing Director and CEO of the company.