Subex has received its board’s approval to raise up to $135 million through Qualified Institutional Placement (QIP), Preferential Issue and/or Private Placement of equity shares and/or equity shares through Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs) and/or any securities convertible into equity shares at the option of the company.
Further, the company board has also gave approval to increase the authorized share capital of the company from Rs 130 crore to Rs 247 crore in accordance with Section 94(1 )(a) of the Companies Act, 1956 and other applicable provisions, and subject to the approval of the Members of the Company.
Subex is a leading global provider of business support systems that empowers communication service providers to achieve competitive advantage through Business Optimization-thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
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|---|---|
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