Subex Ltd, provider of business support systems (BSS) for communications service providers, is looking to raise $135 million to redeem foreign currency convertible bonds (FCCBs) of $131 million. “We intend to raise the required amount through debt or equity or a combination of the two,” Mr Subash Menon, Founder Chairman, Managing Director and CEO, Subex, said in a press statement.
“We are clearly committed towards our customers and investors and are confident of the future of the business seeing the increasing traction for the company's industry leading ROC and Managed Services offering,” Mr Menon said. Consequent to the sale of its activation products, the company has put more emphasise in Business Optimisation or RMS. This segment, which is the area in which the company has been operating traditionally, is the fastest growing segment in telecom BSS space.