FCS Software surges on launching GDRs issue

FCS Software Solutions, on Tuesday, launched its Global Depository Receipts (GDRs) issue to mobilize fresh funds of up to $60 million.

The scrip is currently trading at Rs 3.63, up by 0.11 points or 3.13% from its previous closing of Rs 3.52 on the BSE.

The scrip opened at Rs 3.62 and has touched a high and low of Rs 3.66 and Rs 3.61 respectively. So far 5,80,611 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs 8.88 on 11-Dec-2009 and a 52 week low of Rs 1.74 on 13-Jul-2009.

Last one week high and low of the scrip stood at Rs 4.25 and Rs 3.50 respectively. The current market cap of the company is Rs 192.23 crore.

The promoters holding in the company stood at 31.34% while Institutions and Non-Institutions held 0.03% and 33.61% respectively.

In April this year, the board of the company had approved the proposal to raise funds to the extent of $60 million through various routes including foreign currency convertible bonds (FCCBs), American depository receipts (ADRs) and GDRs.

FCS Software is engaged in the IT consulting services, e-learning and digital content management, application helpdesk and infrastructure management services. Its esteemed clientele includes fortune 500 companies in office automation, retail, software, food & beverages and investment banks, among others.