Melstar Information plans to mobilize Rs 35 crore

Mumbai-headquartered Melstar Information Technologies is considering mobilizing Rs 35 crore through issuance of equity shares / securities convertible into equity shares in domestic and / or international markets.

The board of the company has approved the proposal for the same.

Apart from this, the board has also given its nod to increase the authorized share capital of the company from Rs 20 crore to Rs 55 crore.

Melstar Information Technologies, established in 1986, focuses on servicing the banking, insurance, government and IT domains. The company undertakes systems and application management activities, offers specialist technology centers and a highly cost-effective virtual development environment as part of its offshore operations in India.