Subex shares surge over 8% ahead of fundraising meet

Shares of IT services firm Subex Ltd today jumped over 8 per cent ahead of the company's board meet on Friday to consider raising funds through issuance of equity shares on preferential basis.
The stock gained 7.77 per cent to Rs 11.78 on BSE.
At NSE, shares of the company soared 8.25 per cent to Rs 11.80.
On the volume front, 25.61 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade.
"The meeting of the Board of Directors of the company will be held on Friday, March 24, 2017 at Bangalore, inter alia, to consider and approve the raising of funds by way of issue of equity shares on preferential basis for the company," Subex said in a BSE filing yesterday.

It did not provide further details.