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Sify to raise $57 m capital

CHENNAI: Sify Technologies has entered into a subscription agreement with Infinity Satcom Universal Private Limited, an Indian entity, to sell 12.82 million Indian equity shares of the company to it at a purchase price of $4.46 per share. The company will mobilise $57.16 million through this sale. The board of Sify Tech also approved the merger of Sify Communications, a majority-owned subsidiary of the company.

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