TAKE Solutions gets $4.45 mn from YES Bank

BANGALORE: Business solutions provider TAKE Solutions Ltd., today announced that private sector bank, YES Bank, has offered debt financing of $4.45 million in the company to fuel TAKE's growth going forward.

We are excited about the possibilities this alliance with YES BANK opens up for TAKE Solutions. The investment by YES Bank will propel TAKE Solutions growth strategy, to be driven by both organic and inorganic modes, said Srinivasan HR, Vision Holder, TAKE Solutions.

Commenting on the transaction, Jaideep Iyer, Senior Vice President Life Sciences, YES Bank said, This is in line with our sector-focused approach in assisting technology companies to scale their product offerings via combination of structured debt, financial advisory solutions on capital raising and strategic advisory on domestic and cross border M&A.

TAKE Solutions achieved a top line of $10.01 million with a PBT of $1.60 million for the financial year ending March 2005.