Saksoft to expand capital base at Rs 20 cr

New Delhi, June 18 (UNI) Saksoft Ltd today said it will expand its capital base to Rs 20 crore to augment its long-term working capital requirement and to repay debt taken for funding in its recent acquisition.

The company's board has also approved preferential allotment of equity shares to US-based TransUnion Interactive Inc, a statement said.

It will issue equity shares on a private placement basis to QIBs, together aggregating to 20 lakh shares subject to necessary approval of shareholders.

Saksoft Ltd provides software services and solutions to the banking, insurance, and the financial services industry. Its software services include consulting, design, development, re-engineering, systems integration, implementation, placement, change management, problem management, continuous improvement, and operations and production support.

UNI