This homegrown BPM services provider approves issuance of equity shares, warrants

One Point One Solutions Limited, a homegrown provider of technology-enabled business process management (BPM) services, has informed exchanges that the Board has proposed to raise the company's authorized share capital from Rs 50 crore to Rs 70 crore.

"This requires shareholder and regulatory approval. Amending the company's Memorandum of Association (MOA) will be necessary," the company said.

Also, the board has approved issuing and allotting a total of 3,75,94,502 equity shares and 1,67,85,714 equity warrants, each with a face value of Rs 2. 

"These will be offered to specific promoters and non-promoters for Rs 56 per share/warrant (including a premium of Rs 54). The total consideration could reach Rs 304.53 crore," the company said.

Earlier, One Point One Solutions incorporated its wholly-owned Singapore subsidiary – One Point One Singapore Pte. Ltd – for the business development of the patent company's products and services in overseas markets. 

The company also said that the incorporation has got approval from the Accounting and Corporate Regulatory Authority (ACRA) of the Government of Singapore.

Earlier, One Point One Solutions reported a two-fold jump in net profit to Rs 5.93 crore in the September quarter, up by 209.92 per cent YoY from Rs 1.91 crore in the same quarter of FY23.

The company had reported a net income of Rs 41.01 crore during the quarter under review as against Rs 34.92 crore in the year-ago quarter, up 17.45 per cent. It also recorded EBITDA for the quarter at Rs 14.83 crore as compared with Rs 8.65 crore, up 71.49 per cent.