Rel Cap to invest Rs 32cr in Spanco

Reliance Capital will subscribe to 29.80 lakh equity shares and 5.70 lakh warrants, with an entitlement to subscribe for equity shares, of Spanco Telesystems and Solutions (STS) at Rs 90.90 per share aggregating Rs 32.27 crore.

According to a release issued by Reliance Capital to the BSE today, the subscription will represent 14.96% of the fully expanded equity share capital of STS after the preferential issue made by STS.

"The preferential issue shall be subject to the approval by the shareholders of STS at their annual general meeting to be held on September 15, 2005," the release added.