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Our Bureau

Bangalore , Nov. 9

Telecom software maker, Subex Systems, plans to increase its authorised capital from Rs 12. 5 crore to Rs 30.14 crore.

The company has convened an extraordinary general meeting on December 2 to get the shareholder approval for increasing the authorised capital.

"This increase will enable us to have enough capital just in case we go in for any acquisition," said Mr Subash Menon, CEO, Subex. With this increase, the company's authorised equity base will go up to 3.014 crore shares of Rs 10 each from the present 1.25 crore shares.

The EGM will also consider a proposal to extend the benefits of the Employees Stock Option Plan 2005 to eligible employees and directors of the company, among others, the company said in a notice to the Bombay Stock Exchange.

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