Valuemart Info raises 6 cr via equity shares

New Delhi, Sep 10: Valuemart Info Technologies Ltd today said it has raised Rs six crore through a preferential issue of equity shares to strategic investors.

The company issued 1,00,00,000 equity shares of Rs two each at a premium of Rs four per share, it said in a statement.

Company's Managing Director C K Vasudevan said, ''The funds raised will be utilised to upgrade existing facilities, acquire new business, make fresh investments in hardware and software, and meet working capital requirements. These investments shall contribute substantially in increasing the revenues for the company.'' Post issue, the paid up capital of the company has increased to Rs 8.01 crore and the reserves have increased to Rs 5.50 crore.

The net worth of the company also rose to Rs 13.26 crore and the Book Value per share to Rs 3.31.

The company is an IT and BPO solutions provider with offerings in ERP and new generation patent pending technologies such as BPM. Its key competencies are in the banking, financial services, insurance, legal and manufacturing verticals.

UNI