Acropetal Technologies IPO : ICRA gives 3 out of 5 Grade

by khalid on 14/02/2011 · 0 comments

Bangalore based Acropetal Technologies IPO has got 3 out of 5 by ICRA (rating agency) and this rating/grading is Average fundamentals for a technologies, healthcare and energy company IPO. The grade 3 indicates that the fundamentals of the IPO are Average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of —– Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. Acropetal Technologies Limited (ATL) is recognized as a global leader in Information Technology (IT) outsourcing services. The company was ranked among the top 500 of India’s Best Performing Mid Sized Companies in the Second Annual Inc. India 500 Awards.

The objects of the fresh issue :- The proceeds from the IPO are proposed to be utilized for acquisitions, setting up a software development centre in Bangalore, establishment of overseas offices, repayment of loans and working capital requirements of the company.

From 2006 onwards, the company started offering information technology services, and ventured into the healthcare domain in FY10. The IT services and the healthcare segment accounted for approximately 49% and 2.5% of consolidated revenues respectively in 2009-10.

During the nine months ended December 31, 2010, the company reported an operating income of Rs 1481.3 million and a net profit of Rs 284.1 million on consolidated basis.

Stay tuned to BelltheBull Blog for more news on Acropetal Technologies IPO !

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