i-flex Solutions allots 4447418 equity shares on preferential basis

i-flex Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on September 14, 2006, has allotted 4,447,418 equity shares of the Company of face value of Rs 5/- each at price of Rs 1,307.50 per share to Oracle Global (Mauritius) Ltd., promoter of the Company on preferential basis. These equity shares shall rank pari passu with the existing equity shares of the Company.

Further the Company has informed that, the Board also decided to invest an amount up to US$ 123 million into the equity capital of i-flex America Inc., a wholly owned subsidiary of the Company.

Source : Equity Bulls

Keywords