Suresh Venkatachari of 8K Miles says total warrant size is Rs 55 crore and it will be utilized for funding Serj Solution acquisition and organic growth. The company has already started the integration of Serj Solution.
The 8K Miles board has approved the allotment of 14 lakh warrants to promoters/ non-promoters at Rs 398.60 per warrant, which is at a 32 percent discount. Promoter holding in the company stood at 66.28 percent as on September.
The company's non-promoters include DSP BlackRock Microcap Fund and Sundaram MF.
8K Miles acquired HR consulting firm Serj Solution in November for Rs 15.80 crore. Serj Solution has revenues of Rs 35-40 crore.
Suresh Venkatachari of 8K Miles says total warrant size is Rs 55 crore and it will be utilized for funding Serj Solution acquisition and organic growth. The company has already started the integration of Serj Solution.
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8K Miles Soft stock price
On December 22, 2014, at 14:13 hrs 8K Miles Software Services was quoting at Rs 606.00, up Rs 19.95, or 3.40 percent. The 52-week high of the share was Rs 804.00 and the 52-week low was Rs 75.00.
The company's trailing 12-month (TTM) EPS was at Rs 2.26 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 268.14. The latest book value of the company is Rs 21.98 per share. At current value, the price-to-book value of the company is 27.57.
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