One Point One Solutions, a leading provider of Business Process Management (BPM) solutions, will raise ₹12 crore through preferential issue of 73.79 lakh equity shares at ₹16.47 per share.

Of the overall issue six lakh shares would be issued to promoters and the remaining 67.79 lakh shares would be subscribed by a group of non-promoter investors.

The company has also set up a wholly-owned subsidiary, One Point One USA Inc, at Delaware, US, with an initial capital of $5,00,000.

Akshay Chhabra, Managing Director, One Point One Solutions, said the company will use the proceeds from the preferential issue to fund the long-term capital requirement, including investment in the overseas subsidiary to expand the business.

Also read: One Point One Solutions signs service pact with Kotak Mahindra Bank, DMI Finance

One Point One USA Inc has been incorporated as a wholly-owned subsidiary for business development of the parent company products and services in North America market, he said.

The company looks at Australia as another major international destination for business expansion besides expanding in UAE and USA, he added.

Also read: Celebrity Fashions to raise up to ₹10 crore via preferential issue

One Point One Solutions offers technology, accounting, skill development, and analytical solutions that help businesses build better capabilities and enable them to achieve seamless growth.

It serves a broad spectrum of industries, such as Telecom & Broadcasting, Retail and E-commerce, Consumer Durables & FMCG, Banking and Finance, Travel & Hospitality, and Insurance. The company has 5 service centres in Navi Mumbai, Gurgaon, Chennai, Bangalore, and Indore with over 5,500 seats on per shift basis.

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