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Accentia Technologies gets nod to raise $10 million via various routes

28 Nov 2011 Evaluate

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.

Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
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