Sanra Software gets BoD's nod for buying out

New Delhi, Dec 7 (UNI) Sanra Software Ltd today said its Board of Directors (BoD) has approved buying out the animation business of Pix Aalaya Studios Pvt Ltd, besides raising Rs 30 crore for acquiring companies and gearing up existing and new areas of businesses.

The BoD has also decided to issue GDR/ADR/FCCB and other instruments not exceeding 27.50 million dolllar.

''The company will acquire the business of animation, gaming and special effects from Pix Aalaya Studios Pvt Ltd through a business transfer agreement,'' a statement said.

The BoD has approved raising of funds through rights issue/ public issue/ preferential issue to accelerate the synergies of existing business as well as new area of business, including acquiring companies or business with good potential, for an amount not exceeding Rs 30 crore, the company said.

Mr Sukumar Subramanian will be the Chief Executive Officer for the animation division of the company.

All decisions are subject to the approval of shareholders and other authorities.

UNI PV DKS RS2012