Prism Informatics, software development and IT business consulting services provider, said that the board of directors of the company has approved allotment of 2,640,000 equity shares of Re 1 each at the premium of Rs 24 a share by circular resolution.

This allotment has been approved on conversion of 6,60,000 2% non cumulative compulsorily convertible preference shares (NCCP’s- Series V) of Rs 100 each a share at the conversion price of Rs 25 determined in accordance with SEBI Regulations, 2009.

Shares of the company was last traded at Rs 22.60.