Subex Azure promoters to increase their stake in the company

Bangalore, Jun 11 (UNI) Subex Azure Ltd (SAL), a leading global provider of OSS solutions for telecom operators, has announced a preferential issue of warrants to its promoters and the promoter group.

It has been approved at the company's shareholders meeting on June four.

The promoters, comprising Subex Holdings Private Limited and Subash Menon, would have their stake increased from 8.73 per cent (3,040,960 shares) to 13.07 per cent (4,840,960 shares).

Sudeesh Yezhuvath, belonging to the promoter group, will have his stake increased from 0.37 per cent (127,660 shares) to 1.51 per cent (557,660 shares), a company's press release said.

Chief operating officer Sudeesh Yezhuvath was being allotted 430,000 warrants. Each warrant was convertible into one equity share of Subex Azure Limited, and has been priced at Rs 630.31 as per the pricing norms under the SEBI guidelines, the press release said.

UNI