Subex Ltd.

Subex has received its board’s approval to mop up $135 million through issue of Foreign Currency Convertible Bonds (FCCBs), subject to the approval of the shareholders. The company has two tranches of FCCBs with the total redemption value of $131 million, which it needs to redeem in March 2012 and the current fund raise is to meet that obligation.

The company has been recording strong growth and profitability in its continuing product business (Business optimization or RMS). In Q2, revenue for this segment grew 26% Y-o-Y. Consequent to the sale of its Activation products, the company has put more emphasize in Business Optimization or RMS. This segment, which is the area in which the company has been operating traditionally, is the fastest growing segment in telecom BSS space. 

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.