Govt allows Japan’s NTT Communications to raise stake in Netmagic

The proposal of data centre solutions firm Netmagic Solution to increase the stake of its parent company Japan-based NTT Communications in it to up to 81.6345 per cent for Rs 575 crore has been approved by the Finance Ministry.

NTT Communications provides consultancy, architecture, security and cloud services to enterprises.
‘The proposal of Netmagic Solutions Pvt Ltd, Mumbai has been cleared,’ Finance Ministry said.