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Our Bureau

Hyderabad, Sept. 5 Cambridge Technology Enterprises is in the process of finalising move to allot preferential warrants to overseas investors – Rosebury Investment and Prime Genius, subject to approval of shareholders at their annual general meeting later this month.

The Chief Financial Officer, Mr Ramesh Reddy, said that the company board approved the issue of 42.5 lakh convertible equity warrants on a preferential basis to these investors at Rs 55 per warrant aggregating Rs 23 crore.

This is part of the company’s move to expand IT infrastructure and step up global operations and reach.

The company is also evaluating the options of a couple of acquisitions, Mr Reddy told Business Line.

Cambridge Technology raised funds through an IPO and has since then made two overseas acquisitions.

While one of them has been integrated with the company operations, the other is likely to be integrated by the year-end.

“Once we secure shareholders nod, we would be able to pursue these two acquisitions,” Mr Reddy said.

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Cambridge Tech raising Rs 23 cr via pref issue

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