The Hindu Business Line : Cerebra Integrated Tech

The Bangalore-based Cerebra Integrated Technologies is moving up on the BSE on acquisition and investment triggers. According to market sources, the ITES, EMS, contract manufacturing and design engineering player, which was earlier referred to the BIFR, saw its net worth return to positive by virtue of Rs 18 crore earned on account of premium for a preferential issue of shares to strategic investors this month. The market grapevine suggested that it has also closed in on three small overseas buy-out targets in the RFID, BPO and software consultancy areas in Canada, the UK and the US respectively. The turnover size of the targets varies between S10 and 15 million. Mr V. Ranganathan, MD, confirmed that Cerebra was close to being off the BIFR ambit soon after it reaches an one-time settlement with the banks on old loans of Rs 13 crore. It would allow a write back of Rs 10 crore. It has allotted 90 lakhs shares of Rs 10 each at a premium of Rs 10 per share to new investors. It also planned a $10-million GDR issue. But the MD declined to detail the acquisition moves. The stock hit the upper circuit and closed five per cent up with a volume of 67,317 shares on the BSE. In the last one month, it has gained over 42 per cent.

— Jayanta Mallick

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