BANGALORE, INDIA – Subex Ltd, a leading global provider of operations and business support systems (OSS/BSS) for communications service providers (CSPs), announced today that it’s Board of Directors has approved a Preferential Allotment of shares. A maximum of 8 million shares will be issued at Rs. 80 after obtaining necessary approval from the shareholders during the AGM on 13th September. The exact quantum will be decided later. The shares are being issued to the investment vehicle of a telecom operator.
“This investment from an entity that understands the telecom software sector well vindicates our stand on the bright future of the company. They were particularly impressed with our positioning and strategy around Revenue Operations Centre (ROC) and Managed Services. The fact that they are investing at a price that is significantly higher than the current market price establishes their confidence in the company”, said Subash Menon, Founder Chairman, Managing Director and CEO, Subex Ltd.