Subex

India's IT product companies such as Subex and Srishti are expected to grow by at least 22 percent in 2009, while their bigger software services rivals are estimated to grow only by around 16 percent this year.

SiliconIndia.com 2009

Bangalore-based Subex provides software to phone services companies to prevent fraud and other revenue losses.

Subex Looking to Raise Funds to Pay Off Part of Bonds Dhanya Ann Thoppil Of DOW JONES NEWSWIRES 2011

MUMBAI - Subex Ltd. said Tuesday it agreed to sell its activation business to a unit of Japan's NEC Corp. for an undisclosed amount, as the Indian software developer seeks to raise funds to repay debt, including overseas bonds coming up for redemption in March.

Subex to Sell Activation Business Ashutosh Joshi 2011

Subex didn't disclose the financial terms of the deal with Japan's NetCracker Technology Corp.

Subex to Sell Activation Business Ashutosh Joshi 2011

Bangalore-based Subex provides software to phone services companies to prevent fraud and other revenue losses.

Subex to Sell Activation Business Ashutosh Joshi 2011

Subex restructured nearly $141 million of those bonds in 2009, with a new conversion price at 80 rupees, bringing its face value down to $55 million.

Subex Looking to Raise Funds to Pay Off Part of Bonds Dhanya Ann Thoppil Of DOW JONES NEWSWIRES 2011

BANGALORE - Subex Ltd. could raise funds via equity or debt to buy back or redeem a part of its foreign currency bonds due in March, and may further restructure the balance portion, Chief Executive Subash Menon said Thursday.

Subex Looking to Raise Funds to Pay Off Part of Bonds Dhanya Ann Thoppil Of DOW JONES NEWSWIRES 2011

Subex's debt, excluding the bond obligations, stood at nearly $26 million at the end of September.

Subex Looking to Raise Funds to Pay Off Part of Bonds Dhanya Ann Thoppil Of DOW JONES NEWSWIRES 2011

Separately, a person familiar with the matter told Dow Jones Newswires that the founders are already in talks with potential investors to sell a stake in Subex.

Subex Looking to Raise Funds to Pay Off Part of Bonds Dhanya Ann Thoppil Of DOW JONES NEWSWIRES 2011

In June, Vice President of Finance Ramanathan J said Subex had total debt of 5.36 billion rupees $111.3 million.

Subex to Sell Activation Business Ashutosh Joshi 2011