IST to form subsidiary, set up SEZ in Gurgaon

IST Ltd has said it will form a wholly owned subsidiary in order to set up a Special Economic Zone in Gurgaon which will cater to the IT sector.

At its meeting held last month, the Board approved the proposal to incorporate a subsidiary to set up the SEZ, which would cater to the IT or ITeS sector, the company informed the Bombay Stock Exchange.

The Haryana-based company has also received the Board's nod for acquiring 50,000 equity shares of Neil Builders Ltd, following which it would become a wholly owned subsidiary of IST.

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