The Hindu Business Line : EdServ to raise Rs 2 cr via warrants

Chennai, Aug. 19 EdServ Ltd will raise Rs 2 crore from its promoters over the next 18 months through issue of 2.27 lakh warrants at Rs 88 a warrant (Rs 10 each with a premium of Rs 78). The promoters, who currently hold 29 per cent in the company, have agreed to subscribe to the warrants fully.

Mr S. Giridharan, CEO, EdServ, said the funds will be used to augment the on-going brand promotions for the company’s products, including the recently launched EdCademy Off-Campus AE.

This is an e-learning-based assessment framework and targets around four lakh students of Anna University-affiliated colleges to help them pass their semester exams.

The Chennai-based company has over 100 employees and has provided exam and job-related services to over 10,000 students. .

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