Back California Software plans 1:1 rights issue
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It will issue 49.21 lakh equity shares (face value of Rs 10 each) for cash at a price band of Rs 55 to Rs 66 per share, according to a company press release.
The rights issue is to meet the capital expenditure to expand offshore development centres and meet the additional working capital requirements to invest in existing subsidiaries.
It would also be used to acquire companies in specific domains to strengthen, expand, solution offerings to customers and meet the expense of the present issue, the release said.
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