Acropetal Technologies IPO : Files DRHP with SEBI

by khalid on 03/04/2010 · 0 comments

Acropetal Technologies is Bangalore based IT solutions and services provider company. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to float its IPO. The company wants to raise money from primary market with an IPO of Rs 170 crores through the equity shares of face value Rs 10, with a premium decided by the 100% book building process.

The proceeds of this IPO will be used to finance the funds required for its potential acquisitions; to set up a Software Development Centre cum Corporate Office at Hosur Road, Bangalore; expansion & establishment of overseas offices; part Repayment of Term Loans; additional Long Term Working Capital requirements and General Corporate Purposes.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book running lead managers to the issue is Saffron Capital Advisors Private Limited.

Registrar of the Issue is Sharex Dynamic (India) Private Limited.

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