Hyderabad-based IT firm Softpro Systems has informed that it would raise Rs 43.20 crore through preferential issue of convertible warrants.

It should be noted that, the board of directors of the company has already approved a proposal to this effect at its meeting held on Friday.

The board has sanctioned the approval to issue and allot 20 lakh fully convertible warrants to persons other than promoters on preferential basis, and 4 lakh free convertible warrants (FCWs) to promoter group for Rs 180 each.

Apart from these, the board has also resolved the proposal to increase the authorized share capital to Rs 10 crore. However, the final decision is subject to approval by the shareholders at its forthcoming annual general meeting.

Softpro Systems Limited provides various enterprise and collaborative solutions. It offers enterprise solutions in the areas of e-business, knowledge management, and business intelligence.

Shares of the company closed on Friday at Rs 202.80, up 5% against previous close of Rs 198.