The announcement was made after trading hours on Tuesday, 19 June 2012.

Meanwhile, the BSE Sensex was up 39.12 points, or 0.23%, to 16,898.92.

On BSE, 15.85 lakh shares were traded in the counter as against an average daily volume of 3.76 lakh shares in the past one quarter.

The stock hit a high of Rs 152.70 and a low of Rs 138.50 so far during the day. The stock had hit a 52-week high of Rs 465.50 on 8 July 2011. The stock had hit a 52-week low of Rs 128.05 on 4 June 2012.

The stock had underperformed the market over the past one month until 19 June 2012, falling 12.85% compared with the Sensex's 4.38% rise. The scrip had also underperformed the market in past one quarter, sliding 27.53% as against 2.39% fall in the Sensex.

The mid-cap company has an equity capital of Rs 19.31 crore. Face value per share is Rs 2.

Educomp Solutions said that out of the mentioned amount of $155 million, $111 million is proposed to be utilised in redemption of existing foreign currency convertible bonds (FCCBs) (principal of $78.50 million and balance as redemption premium) and the balance amount would be utilised towards capital expenditure and strengthening the balance sheet of the company. The components of the financing package are expected to close simultaneously before the FCCB redemption date, the company said in a statement.

Educomp Solutions' consolidated net profit fell 57.8% to Rs 61.54 crore on 5.1% growth in net sales to Rs 513.61 crore in Q4 March 2012 over Q4 March 2011. Consolidated net profit fell 59.7% to Rs 135.54 crore on 10.4% growth in net sales to Rs 1491.28 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

Educomp Solutions, founded in 1994 is a globally diversified education solutions provider in India.