One Point One Solutions, a supplier of Business Process Management (BPM) options, stated it’s board has accredited the preferential issue of 73,78,911 fairness shares at ₹16.47 per share to lift ₹12.15 crore.
Out of this 6,00,000 shares can be issued to the promoter and remaining 67,78,911 to group of buyers categorised as non-promoters.
The firm stated it has additionally arrange wholly-owned subsidiary in the U.S. named as “One Point One USA Inc.” in Delaware with an preliminary funding of $5,00,000.
Akshay Chhabra, Managing Director, One Point One Solutions stated, “The successful closing of preferential issue of up to ₹12.15 crore from promoters and investors is a reiteration of investor confidence in our company.”
“We will utilise the proceeds from the preferential issue to fund long term capital requirement of the company including investment in the overseas subsidiary to expand the business,” he added.
One Point One USA Inc. will undertake enterprise growth of the father or mother firm’s services in the North America market.
