Silver Touch Technologies Limited has made a significant strategic move by establishing a new subsidiary, AI4Pharma Tech Limited, which will focus on developing advanced artificial intelligence solutions specifically tailored for the pharmaceutical sector. The announcement of this new subsidiary was made today, marking a key milestone in the company’s expansion efforts.
As of 1:40 PM today, shares of Silver Touch Technologies Limited were trading at ₹749.10, reflecting a modest increase of ₹2.75 or 0.37 percent on the National Stock Exchange (NSE). This positive movement in the stock price underscores investor confidence in the company’s new venture. AI4Pharma Tech Limited, headquartered in Ahmedabad, Gujarat, has been officially incorporated as of September 10, 2024.
The newly formed subsidiary is set to focus on developing innovative AI-driven tools designed to streamline various processes within the pharmaceutical industry. These tools will encompass areas such as regulatory submissions, continuous monitoring, and compliance management, offering significant potential for operational efficiencies and enhanced regulatory adherence.
Silver Touch Technologies has shown a strong commitment to this new venture by subscribing to a majority stake in AI4Pharma Tech Limited. Specifically, the company has acquired 50.09 percent of the subsidiary’s share capital, translating to an investment of ₹5,00,990 at face value. This substantial investment reflects Silver Touch’s confidence in the promising future of AI applications in the pharmaceutical field and its commitment to driving innovation in this domain.
The subsidiary has been authorized with a share capital of ₹10,00,000, which provides a robust financial foundation for its operations and growth initiatives. Minesh Doshi, a prominent promoter of Silver Touch Technologies, has been appointed as a director of AI4Pharma Tech Limited. His involvement underscores the strategic importance of this new venture to Silver Touch and his role in steering the subsidiary towards achieving its goals.
The creation of AI4Pharma Tech Limited signifies a strategic expansion for Silver Touch Technologies into the realm of artificial intelligence, specifically targeting the pharmaceutical industry. This move is poised to enhance the company’s service offerings by integrating cutting-edge AI technologies into the regulatory and compliance aspects of the pharmaceutical sector. As the industry increasingly looks to technology to address complex regulatory challenges and improve efficiency, Silver Touch’s new subsidiary is well-positioned to meet these needs with innovative solutions.
Overall, this development represents a forward-thinking approach by Silver Touch Technologies, aligning with broader industry trends towards technological integration and innovation. It is expected that AI4Pharma Tech Limited will play a crucial role in advancing the use of artificial intelligence within the pharmaceutical industry, potentially transforming how pharmaceutical companies manage regulatory processes and compliance.
Silver Touch Technologies Limited is a leading IT services provider specializing in custom software development, IT consulting, and digital transformation solutions. With a focus on leveraging technology to drive business efficiency, the company offers services in areas such as enterprise solutions, mobile applications, and artificial intelligence. Headquartered in India, Silver Touch Technologies serves a global clientele, delivering innovative and impactful IT solutions.
