IT solution provider Softpro Systems Ltd today said it would raise Rs 43.20 crore through preferential issue of convertible warrants.
The board of directors approved a proposal to this effect at its meeting held on Friday, Softpro Systems said in a filing to the Bombay Stock Exchange.
The board approved issuing and allotting 20 lakh fully convertible warrants to persons other than promoters on preferential basis and four lakh free convertible warrants (FCWs) to promoter group for Rs 180 each.
The board also resolved to increase the authorised share capital to Rs 10 crore, it said.
However, the final decision is subject to approval by the shareholders at its forthcoming annual general meeting, it said.
Shares of the company closed at Rs 202.80, up five per cent from the previous close on the BSE.
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