The board of Cybermate Infotek has decided to increase the authorized share capital of the company by Rs 60 crore.
The board has decided to raise additional resources by way of issue of securities such as GDR / ADR, FCCBS and any other instrument convertible into equity shares upto Rs 60 crore.
The board has decided to issue and allot convertible equity share warrants to the promoters and promoters group to P C Pantulu (22,75,058 warrants), K S Shiva Kumar (9,87,004 warrants), P Chandra Sekhar (2,34,160 warrants) and Orchasp Securities (1,62,30,194 warrants).
The board has decided to set up a 100% subsidiary for deploying e-sagu in partnership with Media Lab Asia with an investment of Rs 50 lakhs.
This was decided at the board meeting held on 20 September 2008.
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