Subash Menon's exit from Subex, the 100 million dollar telecom software company he founded, has not been without controversy. However, if he's dejected, he's not showing it. Menon instead has now plunged fulltime into his second venture- an environmental solutions company
Subex founder's sheer ambition triggered the company's meteoric rise and its catastrophic fall.
Telecom software product company Subex, on Friday appointed former Patni Computer CFO Surjeet Singh as its managing director and CEO, effective immediately.
In an interview with CNBC-TV18, Subash Menon, Managing Director of Subex said that the maturity period for the entire amount of USD 131 million has been pushed to 2017.
The leading global provider of business support systems for communications service providers Subex on Monday said it exchanged USD 127.72 million of foreign currency convertible bonds (FCCBs) after 97% of bond-holders approved the same.
The RBI has approved the restructuring plan of Subex outstanding FCCBs. Subash Menon of Subex says, the overall indebtedness of the company will come down to the extent of conversion to equity, as soon as we issue the new bonds come July. "We are certainly expecting interest saving. It would probably be in the range of about USD 12 million odd."
Bangalore-based software company Subex has received Reserve Bank of India approval to extend maturity period of all its FCCBs (foreign currency convertible bonds) to July 9 from March 9.
Subex’s foreign currency convertible bonds (FCCBs) are due on March 9. In an interview to CNBC-TV18, Subash Menon, MD and CEO says, the company has applied to the RBI for extension of the due date from March 9 to July 9. “We are quite confident that the RBI approval will come through. We are expecting that in the next few days," he adds.
In an interview to CNBC-TV18, Subash Menon, managing director and chief executive officer, Subex said, there are two tranches of foreign currency convertible bonds (FCCBs) outstanding at this point in time. He further said, the company hopes to have a solution over the next three-four months.
Subex Ltd, a provider of telecom software products, has entered into an agreement to sell its activation business to NetCracker. Subash Menon, chief executive officer and managing director of Subex said, EBITDA will improve post this deal.
In an interview with CNBC-TV18, Subash Menon, Founder Chairman, President and CEO, Subex said the expected order intake for the whole year is about USD 110 million. He said the company would see 20% growth in order book in FY12.
Subash Menon, CEO and Managing Director of Subex at a press conference announcing the Q3 results mentioned that the company’s order book has seen a 58% increase year on year (YoY), at the back of the growth in ‘manage services’ contracts.