The Hindu Business Line : Saksoft makes pref allotment

Chennai June 18 Saksoft, a Chennai-based IT company, has raised Rs 3.27 crore through preferential allotment of 1.40 lakh equity shares at Rs 233.65 a share to the US-based TransUnion Interactive. Post allotment, the American company will have 1.16 per cent stake in Saksoft, according to a company official.

TransUnion provides credit and information management support to over 500 million global customers to manage their risks and customer relationships.

Saksoft will soon issue 18.60 lakh equity shares on private placement to qualified institutional buyers, who are yet to be identified, he said.

The company will use the funds raised to augment its long-term working capital requirement and repay debt taken for funding its recent acquisition. In October, Saksoft acquired 100 per cent stake in the UK-based Acuma Group for $17 million in cash.

Saksoft's board also approved an increase in the company's authorised capital to Rs 20 crore from Rs 12 crore, the official said.

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