Oracle raises stake in i-flex to 50.6%

In a move to picking up a majority stake in Mumbai-based i-flex Solutions, Oracle Corp, through its investment arm Oracle Global Mauritius, has acquired 3.2 per cent stake, raising its total stake in the company to 50.6 per cent.

Oracle has acquired the 24.24 lakh shares through open market trading during March 27 to April 13.

The stake of Oracle Corporation after the acquisition of the shares has gone up to 50.6 per cent aggregating to 3.86 crore shares of i-flex, it informed the National Stock Exchange. i-flex's shares closed at Rs 1345.60, up 2.09 per cent at the NSE.

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