Edserv Softsystems EGM approves raising funds through QIP

Edserv Softsystems Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on March 25, 2010, inter alia, have unanimously approved the increase in authorized capital of the Company from Rs. 14,00,00,000/- to Rs. 25,00,00,000/-.

The Board also approved raising of funds not exceeding a sum of Rupees 130 crores through Qualified Institutions Placement (QIP).

The stock was trading at Rs.230.90, down by Rs.7.35 or 3.08%. The stock hit an intraday high of Rs.240 and low of Rs.222.

The total traded quantity was 52103 compared to 2 week average of 45812.

Source : Equity Bulls

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