One Point One Solutions Announces Allotment of 3.75 Cr Equity Shares; Details Inside

On Thursday, the shares of One Point One Solutions were in focus after the company announced the allotment of 3,75,94,502 equity shares and 1,67,85,714 equity warrants.

The Board has also given its approval to raise the company's current authorised share capital from Rs 50 Cr to Rs 70 Cr. In exchange for cash, the Board has approved the issuance and allotment of 1,67,85,714 equity warrants and 3,75,94,502 equity shares, each with a face value of Rs 2. These shares and warrants will be issued at an issue price of Rs 56/-per equity share and per equity warrant, including a premium of Rs 54/-per equity share and equity warrant, for an aggregate price of up to Rs 304.52 Cr.

"Pursuant to Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration Rules), 2014 and Regulation 44 of the SEBI (LODR) Regulations, 2015, the Company is providing the facility to its members holding shares on cutoff date i.e., Thursday, July 11, 2024, to exercise their right to vote by electronic means on all or any of the business specified in the notice convening the EGM," said the company in a stock exchange filing.

Among the top 10 investors to whom the equity shares proposed to be allotted are North Star Opportunities Fund VCCBull Value Incorporated VCC SubFund, Ebisu Global Opportunities Fund Limited, COEUS GLOBAL OPPORTUNITIES FUND, FORBES EMF, LC Pharos Multi Strategy Fund SF1, OVATA EQUITY STRATEGIES MASTER FUND, IEGFL - MULTI OPPORTUNITY, DEVANSH TRADEMARAT LLP, Ashok Shah and Anant Aggarwal.

Earlier this month, the company informed exchanges that it had secured a new client with a new-age medical device company based out of Florida. The company, a leading provider of technology-enabled business process management (BPM) services, said that the client specialises in home electrical stimulation devices, bracing, and accessories for pain management and physical rehabilitation. It is a privately held company located in Tampa, Florida and has been providing assistance to people throughout the United States. The brand is accredited by the Joint Commission (JCAHO) and is a Medicare Participating Provider, continuing to set industry standards in medical device innovation and patient care.

One Point One Solutions is a business process management player, incorporated in the year 2008. It offers technology, accounting, skill development and analytical solutions that help businesses build better capabilities and enable them to achieve seamless growth in telecom, broadcasting, retail and E-commerce, consumer durables, FMCG, banking and finance industry.