Ceinsys Tech, Ltd. (BSE CODE :538734) has successfully allotted equity shares on a preferential allotment basis and share warrants to raise Rs. 235 Cr (US $ 28 mn). This move will enable the company to expand through inorganic growth activities while also enabling Ceinsys's international footprint to increase by expanding its services portfolio overseas.
Ceinsys Tech Ltd. RECENT INVESTMENTS:
The company has already started its efforts in that direction by recently acquiring the business assets of the USA based geospatial entity VTS. In addition to the investment in the USA, the Company has also expanded its presence to the Asia Pacific region by setting up a wholly owned subsidiary to expand into technology enablement services that will be offered globally.
PREFERENTIAL ALLOTMENT:
This fund raise provides a strong confirmation on the fundamentals of CeinSys and will continue to enable the global growth strategy that was started in March of this year by acquiring businesses that are complimentary to the company's core expertise in Geospatial, E.R.&D. (Engineering, Research and Design) and Emerging Technologies.
"By leveraging Ceinsys's core expertise and being focused on high growth sectors like Geospatial, Engineering Research and Technology Enablement Services, I have a high degree of confidence in the company's ability to execute this growth strategy globally", said Mr. Sagar Meghe, Promoter and the Chairman of the Company.
Rare Capital, a US based investment firm with a successful track record in investing in emerging growth companies has invested almost Rs. 125 cr (US $ 15 million) as part of this preferential allotment. This investment aligns with the firms focus on similar high growth market segments in which Ceinsys Tech Ltd. operates and the firm's leadership has expressed their excitement around what their investment will enable and how it will contribute to the sustainable growth of the Company.
Mr. Prashant Kamat, CEO & Director, said that, "This investment is a strong commitment into the vision of CeinSys and how we take it forward to the next chapter of its growth. CeinSys is evolving into a complete solutions provider in the sectors of Geospatial, Infrastructure, Engineering Research and Technology Enablement Services."
Shares of Ceinsys Tech Ltd was last trading in BSE at Rs. 737.50 as compared to the previous close of Rs. 693.60. The total number of shares traded during the day was 87598 in over 1798 trades.
The stock hit an intraday high of Rs. 746.00 and intraday low of 685.80. The net turnover during the day was Rs. 63514585.00. |
