Info Drive board approves up to Rs. 1 billion convertible securities

By Tali Rackner

Norfolk, Va., Feb. 28 - Info Drive Software Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved raising additional capital of up to Rs. 1 billion.

The company will issue foreign currency convertible bonds, warrants, private placements, equity shares, Global Depositary Receipts and/or American Depositary Receipts.

The board also approved to increase the authorized share capital of the company to Rs. 1 billion from Rs. 700 million.

There will be an extraordinary general meeting on April 2.

Chennai, India-based Info Drive Software provides information technology consulting services.

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