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HYDERABAD: Innosoft Technologies Ltd has informed the Bombay Stock Exchange its board of directors at a meeting held on Wednesday decided to issue 10 lakh 10,00,000 equity shares of Rs 10 each at par to Seven Hills Capital Management, based in California on a preferential basis.

The company stated that the issue price conforms to the guidelines of the Securities and Exchange Board of India.

The board also decided and approved to convene an extraordinary general meeting of the members of the company on February 5 to pass the necessary resolution as per the provisions of Section 81(1A) of the Companies Act 1956.

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