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  1. Take Solutions to raise Rs 250 crore

Take Solutions to raise Rs 250 crore

Take Solutions, a Chennai-based domain intensive services provider in life sciences, on Thursday announced preferential allotment of shares worth Rs 250 crore to its promoter.

By: | Chennai | Published: February 9, 2018 2:38 AM
Take Solutions, intensive services provider, ISP, Funds, European markets, Srinivasan HR Srinivasan HR, vice-chairman and MD, said: “In response to the emerging growth possibilities, we are delighted to announce a preferential allotment of Rs 250 crore to the promoters.”

Take Solutions, a Chennai-based domain intensive services provider in life sciences, on Thursday announced preferential allotment of shares worth Rs 250 crore to its promoter. Funds raised through the preferential issue will be used to capitalise on opportunities as well as scale up the business in the clinical and regulatory spaces inorganically through strategic acquisitions in North America and European markets. The board of directors has approved the allotment of 1.7 crore equity shares to Take Solutions Pte, the promoter of the company, in one or more tranches. The company will seek the shareholders’ approval through postal ballots. Srinivasan HR, vice-chairman and MD, said: “In response to the emerging growth possibilities, we are delighted to announce a preferential allotment of Rs 250 crore to the promoters.”

The company had last week said it wants to capitalise on the opportunities in the high-growth clinical outsourcing business, especially in North America and Europe. It plans to grow in this space by leveraging its domain expertise, technology-driven and insight-backed offerings, as well as through strategic acquisitions. Take Solutions reported a net profit of Rs 41 crore for Q3, compared with Rs 37 crore a year ago, an increase of 11%.

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