Northgate Technologies is raising US$26.50 million by way of preferential allotment of about 24 lakh equity shares at a price of Rs. 497.28 per share. The allotment is being made to UBS Securities Asia Limited, Swiss Finance Corporation, Macquarie India Capital Fund Limited, and India Institutional Fund Limited. The board also decided to implement ESOP 2006 plan consisting of 6 lakh equity shares to the employees of the parent company and its subsidiaries.