Bangalore, March 20
Powersoft Global Solutions Ltd, an IT services firm, is coming out with a follow-on public offering to raise Rs 11.88 crore. The company is issuing 54 lakh shares of Rs 10 each at a premium of Rs 12 per share and expects to use the proceeds to fund its acquisition plans, set up an R&D centre, upgrade infrastructure and meet working capital requirements. The issue opens on March 23 and closes on March 29, said a company press release. The equity shares of PGSL are currently listed on the Bangalore, Ahmedabad and Chennai stock exchanges. The shares that will be offered as part of the follow-on offering along with the existing shares will also be listed on the Bombay Stock Exchange, the release said.