BPO firm Spanco, formerly known as Spanco Telesystems and Solutions, has approved the proposal for fund raising of Rs 50 crore for the long term working capital requirements of the company.
The company will raise the amount via issuing equity shares on preferential basis and also by bringing a rights issue.
The company has proposed to raise Rs 30 crore by issuing equity shares on preferential basis to existing promoters or new investors and financial institutions. It will also issue equity shares worth Rs 20 crore on rights basis to the equity shareholders.
The company shares closed at Rs 21.50, up 5.11 per cent on the Bombay Stock Exchange today.
