The Hindu Business Line : Calsoft gets nod to raise Rs 40 cr

CHENNAI: The board of directors of California Software Ltd (Calsoft), a Chennai-based software firm, has approved the company's plans to raise an amount not exceeding Rs 40 crore as additional funds through various options, including rights issue, global depository receipts, and other instruments such as preferential allotment.

At a meeting on August 6, the board also approved a plan to increase the company's authorised capital to Rs 12 crore from Rs 7 crore currently.

The company will convene an EGM on September 2 to get the shareholders' approval for the above, according to a communication issued by the company to the NSE.

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