Vakarangee Software enhances FII limit to 49 pc

Mumbai, Sep 10 (UNI) Vakrangee Software Limited (VSL), a leading integrated document and printing management solutions provider, has increased the limit of investment by Foreign Institutional Investors (FIIs) from 24 per cent to 49 per cent of the share capital of the Company.

The decision was announced at the 17th Annual General Meeting (AGM) of the Company held in Mumbai recently.

''The raising of the FII investment ceiling provides depth and liquidity to the Company's shares,'' the Company said in a statement here.

As of August 31, 2007, FIIs have acquired 43 lakh shares representing 22.34 per cent of the share capital of the debt-free and rent-free Company.

Premier global institutions such as Goldman Sachs Investments (Mauritius) I. Ltd. (9.51 per cent) and Merrill Lynch Capital Markets (6.39 per cetn) have crossed the significant 5 per cent holding mark. Other FIIs holding stake include Melchior Indian Opportunities Fund (3.66 per cent), Morgan Stanley and Co.

International (1.06 per cent), Deutsche Securities (Mauritius) Limited (0.87 per cent), Himalayan Fund N. V. (0.52 per cent) and BSMA (0.32 per cent).

UNI