- Up to 40,00,000 Fully Convertible Warrants (FCWs) to the Promoter Group on preferential basis
- 5,00,000 FCWs to the non- promoters
- These decisions were taken at the company’s Board Meeting held today
ICSA (India) Ltd, (BSE: 531524), provider of embedded technology solutions and infrastructure deployment services for the power sector, in its board meeting today has decided to allot up to 40,00,000 Fully Convertible Warrants (FCWs) to the Promoter Group and 5,00,00 FCWs to the persons in the non- promoter group on preferential basis. This decision, however, stands to seek approval of the members at the company’s upcoming Annual General Meeting (AGM).
Commenting on the decision, Mr. G. Bala Reddy, Managing Director, ICSA (India) Ltd said “Our decision to release 45 lakhs fully convertible warrants holds significance in the view of our expansion plans and consolidate promoter holding. We are definite that the decision will be approved at the AGM and will yield positive results for the company.
About ICSA (India) Ltd
ICSA (India) Ltd is in the business of providing technology solutions to power utilities. It also deploys infrastructure in distribution and transmission sectors for different state utilities. The company's product line includes: Intelligent Automatic Meter Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, Pole Top RTU and SCADA solutions.
The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF.