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Sasken Communication hopes to raise Rs 115-130 crore via book-built IPO
Price band fixed at Rs 230-Rs 260 per share
BY A BUSINESS CORRESPONDENT
2 August, 2005: Sasken Communication Technologies has set a price band of Rs 230-Rs 260 per share for its 100% book-built initial public offering. Sasken is making a public issue of 50,00,000 equity shares of Rs 10 each for cash via book-building. Of this, Sasken has reserved 500,000 for allotment to its employees and the balance 4,500,000 shares for the public.
From the portion of shares for the public, a minimum of 60% has been reserved for allotment to qualified institutional buyers on discretionary basis, and another 10% has been set for non-institutional investors. The remaining 30% is reserved for retail investors. Enam Financial Consultants Pvt Ltd. is the Sole Book Running Lead Manager to the issue.
The plans to raise Rs 115 crores at the lower end of the price
band and Rs 130 crores at the upper end of the price band. The net offer to public would constitute 16.36% of the fully diluted post issue paid up equity capital.
Sasken Communication Technologies, a pioneer in telecom R&D
outsourcing, offers a unique combination of complementary IP software products and software services to leading semiconductor manufacturers, network equipment companies, and global wireless handset developers.
Formed in in 1989, Sasken has over 2000 staff, operating from R&D centers in Bangalore and Pune, India and has offices in China, Germany, Japan, the UK and the United States.
BY A BUSINESS CORRESPONDENT
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