Tricom India Limited is raising R20.25Cr through preferential allotment and convertible warrant.

The company approved the allotment of 10 Mn equity share of R2 per sare at R13.5/- and 5 Mn convertible warrant of R13.5/-.

According to Tricom's annual report, the company is raising funds for normal capital expenditure, expansion, acquisition/s, general corporate purposes, working capital requirements etc.

Tricom is an ITeS provider focused on non-voice BPO service and focuses on IT-enabled data management. It has its operations in the country and the US.

Tricom deliver its services in ERP, business intelligence and data warehousing, emerging technologies and offshore software product development.

In 2010, the company acquired Mastiff Tech Private Limited and Mastiff Internet Media Solutions Private Limited for R2.5Cr. The company had issued 1.25 MN equity shares ofRs.2 each on preferential basis as consideration for acquisition of the entire shareholding of Mastiff Tech and Mastiff Internet Media Solutions.

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Last year, it also acquired US-based healthcare service provider GTESS Corporation through its US-based subsidiary Tricom Infotech Solutions Inc. Tricom has been focusing on healthcare vertical since its acquisition of Godrej Global Solutions (now Tricom Infotech Solutions) in 2008.

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