Subex Systems to go for second GDR to raise Rs 13 Crore

Bangalore, Apr 25 (UNI) Subex Systems Limited, leading Telecom Software Product company will go for second issue of Global Deposit Receipt to raise Rs 13 crore, Company Chairman, President and CEO Subash Menon said today.

Speaking after announcing the acquisition of UK based Azure Solution Limited to create Subex Azure limited for USD 140 Million, he said that the company has already raised Rs 23 Crore through GDR and with this fresh proposal the paid up capital of the company will increase to Rs 36 crores.

He said that the Board of Directors will be meeting on May Nine to give final approval.

UNI MSP VK RKN1529