Core Projects looks to raise $100 mn via share sale: sources

BSE 23 May 12 | 12:00 AM

292.95		-2.1 (-0.71%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 512199

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

293.45		-2.4 (-0.81%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: COREEDUTEC

Performance
1 Week	:	Rs	295.40	(-0.83%)
1 Month	:	Rs	278.70	(5.11%)
1 Year	:	Rs	291.05	(0.65%)

Core Projects looks to raise $100 mn via share sale: sources

Reuters / Mumbai 04 May 11 | 11:05 AM

Be the first to comment

Technology-enabled solutions provider Core Projects & Technologies Ltd is planning to raise $100 million in two-three months via a share sale, two sources said on Wednesday.

The company plans to either go for a qualified institutional placement or dilute significant minority stake to a private equity player.

"We are looking at some equity dilution going forward. This will be to help us fund our expansion plans," said a company source who did not wish to be identified.

The company last year raised $75 million via foreign currency convertible bonds in three tranches, the source said.

Currently, the education solutions provider gets 95% of its revenues from overseas and the remaning from domestic operations.