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Intellect Design Arena divests its arm for Rs 20.50 crore

Intellect Design Arena’s subsidiary — SFL Properties has been divested to a third party for a sale consideration of Rs 20.50 crore at arm length basis.

Intellect Design Arena is a digital technology product solutions provider to the Banking and Insurance industry, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury & Markets (iRTM) and Insurance (Intellect SEEC).