Edserv Softsystems to raise funds through QIP

Edserv Softsystems Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 03, 2010, inter alia, to consider and approve the proposal to raise funds through Qualified Institution Placement.

The Board will also consider proposal to appoint a Merchant Banker and arrive at the price / quantum of the issue, to identify investors and to handle the entire QIP issue.

The Board will also fix the date, time and venue of EGM for obtaining the approval of the shareholders for the Qualified Institution Placement and for increase of authorised share capital.

The stock closed the day at Rs.252.80, down by Rs.1.20 or 0.47%. The stock hit an intraday high of Rs.261 and low of Rs.250.10.

The total traded quantity was 90486 compared to 2 week average of 81848.

Source : Equity Bulls

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