Accentia Technologies jumps on getting nod to raise $10 million

28 Nov 2011 Evaluate

Accentia Technologies is currently trading at Rs. 49.75, up by 2.00 points or 4.19% from its previous closing of Rs. 47.75 on the BSE.

The scrip opened at Rs. 49.85 and has touched a high and low of Rs. 49.85 and Rs. 48.05 respectively. So far 760 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 274.00 on 01-Dec-2010 and a 52 week low of Rs. 39.35 on 22-Aug-2011.

Last one week high and low of the scrip stood at Rs. 56.75 and Rs. 44.25 respectively. The current market cap of the company is Rs. 69.86 crore.

The promoters holding in the company stood at 15.97% while Institutions and Non-Institutions held 8.47% and 75.57% respectively.

Accentia Technologies has received its board’s approval to raise funds up to $10 million towards growing its core business in Healthcare Receivables Cycle Management including Transcription, DRT, Coding, Billing and Collections and its newly added integrated Software as a Service(SaaS) offering covering the above mentioned areas in the United States of America.

The company’s board has also decided to raise the said amount by issuing preferential share allotments/warrants to promoters/PACs and through preferential allotment/convertible bonds to foreign corporate bodies/domestic corporate bodies/foreign financial institutions/domestic financial institutions at a price as per Securities and Exchange Board of India (SEBI) pricing norms under preferential allotment.

Further, the company’s board has decided to increase the authorized capital of the company to Rs 25.00 crore. It was decided by the board that the decision to increase the authorized capital of the company will be kept for the approval of the shareholders in the ensuing Annual General Meeting (AGM).

Accentia Technologies is a leading Business Process Management and Solutions Company offering managed services in the Healthcare domain in US, UK, Middle East a nd India geographies.

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