Palred Technologies zooms over 50% in four days on preferential issue to Florintree, others

Palred Technologies (formerly Four Soft) has locked in upper circuit of Rs 165.35, up 10% on BSE, after the board approved an allotment of equity shares worth of Rs 22 crore to Florintree Advisors and others. The company will allot 1.52 million shares to investors on a preferential basis at Rs 145 a piece

“Florintree led and advised investors are the lead participants in this round of preferential allotment. The investors include Mathew Cyriac (former Co-Head of Blackstone India Private Equity Business), Chidambaram Palaniappan (founder of Florintree), K. Madhavan (Joint Managing Director of Star TV India) and Bharat Sheth (Managing