Business Process Outsourcing firm Tricom India [Get Quote] will consider on January 21 raising funds for expansion plans and investment of about $1 million in its US subsidiary.

The board of directors of the company will consider the raising of capital either through allotment of preferential shares, debentures, foreign currency convertible bonds or term loans from banks and financial institutions, the company informed the Bombay Stock Exchange on Saturday.

It will also consider investment in its wholly-owned subsidiary company, Tricom Document management Inc, USA.

Tricom had acquired the US-based firm for around $20,000 in August last year and had proposed to invest over $1 million in the next one-two years for setting up call centres and marketing divisions in the US.