Spanco to raise Rs 175cr for expansion

New Delhi, Dec 20 (UNI) Spanco Telesystems and Solutions Ltd today said it would raise Rs 175 crore to fund the proposed business plans and expansion by issuing equity shares/FCCBs/warrants.

''The Board of Directors has considered and decided to raise funds/resources upto Rs 175 crore for the business and proposed expansion plans,'' a company statement said.

The board also decided to obtain the authority from the shareholders to raise these funds wholly/partly by issuing any securities including equity shares/FCCBs/warrants to any category of investors, including shareholders, promoters, public, qualified institutional buyers or other institutional investors by way of preferential allotment.

The Company is one of the leading networking and systems integration solutions provider.

From providing telecom integration services to multinational, public sector units and India's vast Defence sector, Spanco has evolved to extend its expertise into the space of call centre and Business Process Outsourcing also.

UNI SRS SBA DB2029