Financial Daily
from THE HINDU group of publications
Friday, January 05, 2001
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Financial Daily from THE HINDU group of publications Friday, January 05, 2001 |
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Shonkh board okays preferential allotment
BANGALORE: The board of directors of Shonkh Technologies International Ltd, a convergence product company, has approved the company's plans to raise Rs 182 crore through preferential allotment.
The company proposes to issue 70 lakh equity shares of Rs 10 each at a premium of Rs 250 over the next one month, Mr C.V.R. Rao, CFO, Shonkh Technologies, said.
The proceeds from the issue would be utilised to finance the company's ongoing activities and expansion plans.
Shonkh plans four subsidiaries in the US, the UK, Singapore and Dubai, and a foray into the software services segment. -- Our Bureau
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