MyGate valuation touches $170 Mn in last round; initiates share buyback program
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Security management and convenience service for gated apartments, MyGate had initiated a buyback program to lead a reduction in outstanding equity shares. The company reasoned that the buyback will reduce the outstanding equity share capital which is considered necessary for optimising returns for shareholders and overall enhanced share value. This move was set in place right after MyGate closed its mega Series B funding round.