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EdServ to issue equity warrants to promoter

CHENNAI: The board of EdServ on Monday approved the raising of Rs.12 crore through the issue of 5.60 lakh equity warrants to S. Giridharan, a promoter of the company, at Rs.214 per warrant. This is part of the Rs.130-crore funding exercise for the expansion plan that includes raising funds through a QIB (qualified institutional buyer) issue, , says a company release. The board also constituted a committee to recommend a suitable employee stock option scheme. — Special Correspondent

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