Date:21/10/2005 URL: http://www.thehindubusinessline.com/2005/10/21/stories/2005102103230600.htm

Back Scandent to raise Rs 292 cr

Our Bureau

BANGALORE: Scandent Solutions Corporation Ltd said on Thursday that its board of directors has approved plans to raise up to Rs 292.3 crore through a preferential allotment.

The company plans to issue debentures and warrants to ICICI Venture Funds Management for up to Rs 270.7 crore and securities to Scandent Group, Mauritius, at Rs 220 per share, to raise Rs 22.6 crore. Scandent will convene an extraordinary general meeting on November 18 to get the shareholders' approval for the preferential allotment.

The Singapore-headquartered Scandent Group specialises in consulting and business services for the financial, insurance, healthcare and manufacturing industries.