Ceinsys Tech Raises Rs 235 Crore for Global Growth

Mumbai, Sep 24 (PTI) Ceinsys Tech Ltd on Tuesday said it has raised Rs 235 crore (USD 28 million) through preferential allotment of equity shares and share warrants.

The fresh capital infusion will help the company to expand through inorganic growth while also enabling it to enhance its international footprint by expanding its services portfolio in the overseas markets, Ceinsys Tech said in a statement.

"Ceinsys Tech Ltd has successfully allotted equity shares on a preferential allotment basis and share warrants to raise Rs 235 crore (USD 28 million)," the company said.

Of the total Rs 235 crore, Rs 125 crore (USD 15 million) has been invested by the US-based investment firm Rare Capital as part of the preferential allotment, the company said.

Sagar Meghe, Promoter and the Chairman of Rare Capital, a US-based investment firm with a successful track record of investing in emerging growth companies, has invested almost Rs 125 crore as part of this preferential allotment.

The tech-driven firm specialises in providing geospatial, enterprise and engineering solutions to customers in private and government enterprises across the utility, infrastructure, natural resources, and manufacturing sectors.

It has a global presence with offices in India, USA, UK, Singapore and Germany.

"By leveraging Ceinsys's core expertise and being focused on high growth sectors like geospatial, engineering research and technology enablement services, have a high degree of confidence in the company's ability to execute this growth strategy globally" said Sagar Meghe, Promoter and Chairman of Rare Capital.