Financial Daily from THE HINDU group of publications
Tuesday, Dec 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 09, 2003 |
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Info-Tech
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Software Cranes Soft to raise capital for expansion Our Bureau,
Bangalore , Dec. 8 CRANES Software International Ltd, a global scientific and engineering software solutions provider, plans to increase its authorised capital to fund its proposed expansion programmes. The company will seek shareholders approval of the board's decision to increase the capital limit at an extraordinary general meeting to be held on January 5. The company's board, approving the capital hike, said that the authorised capital would be increased from Rs 11 crore to 14 crore - - equity capital of Rs 12 crore and preference capital of Rs 2 crore. The break-up of the current limit of Rs 11 crore are Rs 9 crore and Rs 2 crore respectively. The board also decided to issue 1.8 million fully paid equity shares in the form of Global Depository Receipts, towards meeting its expansion programme, said a company release. With the IT industry gaining steadily, Crane Software plans to exploit the emerging growth opportunities through focused acquisitions, joint ventures and strategic alliances in India and abroad.
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