Subex to raise Rs 64 cr via share sale

Telecom software product company, Subex, today said it will raise up to Rs 64 crore through share sale.

The Bangalore-headquartered company will issue a maximum of 80 lakh shares at Rs 80 each after obtaining approval from the shareholders in the annual general meeting to be held on September 13, Subex said in a filing to Bombay Stock Exchange.

The exact quantum would be decided later. The shares are being issued to the investment vehicle of a telecom operator.

Shares of Subex were trading at Rs 58.20, up 4.49 per cent from the previous close.