Financial Daily
from THE HINDU group of publications
Saturday, February 26, 2000
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Financial Daily from THE HINDU group of publications Saturday, February 26, 2000 |
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Pentasoft Tech preferential offer
Our Bureau
CHENNAI, Feb. 25
PENTASOFT Technologies Ltd has placed two million equity shares on a preferential basis with TAIB Bank, and Foreign and Colonial Group at Rs. 798 per share.
The company has also placed shares to Sun F&C Mutual Fund and Canbank Mutual Fund under the mutual fund category while SBI Capital Markets has been allotted under financial institutions category apart from others, according to a company official.
A total of 1.35 million shares were placed with mutual funds and other corporate bodies while two million shares were placed with the FIIs.
The board, at its meeting on Friday, also placed 6.65 million shares to Pentamedia Graphics Ltd as part consideration towards the acquisition of the software division.
The official said that the funds raised from the issue would be used to part-pay Pentamedia and the balance would be utilised for expansion plans.
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