The board of directors of One Point One Solutions, a leading provider of business process management (BPM) solutions, has approved an allotment of 3,44,00,000 convertible warrants at ₹28.32 per warrant to the promoters of the company and certain identified non-promoter investors by way of preferential allotment.
The company has received 25 per cent of the consideration amount of warrants amounting to ₹24.36 crore as an advance. In all, it will raise ₹97.42 crore.
Akshay Chhabra, Managing Director, One Point One Solutions, said the funds raised will be deployed in overseas expansion besides pursuing in-organic growth to deliver good growth in the next three years.
The company has over 40 leading clientele including SBI Cards, Godrej Appliance, Kotak Mahindra, ICICI Bank and Airtel. It expanded footprints to the US, Australia and the UAE. It has identified small and medium enterprises in these regions that can benefit from BPO services. The company has recently set up a wholly-owned US subsidiary — One Point One USA Inc.