GSS America Infotech to raise upto $75 million

GSS America Infotech Ltd has announced that the Board of Directors of the Company at its meeting held on January 13, 2010, inter alia, has approved / decided to raise amount of upto $75 million through Foreign Currency Convertible Bonds (FCCB) / Global Depository Receipts (GDR) / American Depository Receipts (ADR) / Qualified Institutional Placement (QIP) routes to fund the inorganic growth opportunities.

The Board approved notice of Extraordinary General Meeting(EGM) and decided to convene the EGM on February 13, 2010 to approve the above resolution.

The stock was trading at Rs.346.05, up by Rs.18.30 or 5.58%. The stock hit an intraday high of Rs.359.80 and low of Rs.322.

The total traded quantity was 610272 compared to 2 week average of 155058.

Source : Equity Bulls

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