Acropetal Technologies IPO : Opening on 21st Feb 2011

by khalid on 16/02/2011 · 0 comments

Bangalore based Acropetal Technologies Limited is entering into primary market with an Initial Public Offer (IPO) of —- Equity Shares of Rs 10 each. The iPO is opening on 21st Feb 2011 and the shares will be available for subscription up to 24th Feb 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs. 88 – Rs.90 Per Equity Share. The company is likely to raise around Rs 170.00 Crore through the issue at the upper level of price band. Acropetal Technologies Limited is mid-tier IT services and products firm which offers Information Technology (IT) outsourcing services to clients in Engineering Design Services, Healthcare, and Energy and Environment sectors.

The proceeds of the IPO are proposed to be utilized to finance the funds required for potential acquisitions, to set up a Software Development Center cum Corporate Office at Hosur Road, Bangalore, expansion & establishment of overseas offices, part repayment of term loans, additional working capital requirements, general corporate purposes and meeting public Issue expenses.

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

Issue Detail:-
Issue Open : 21st Feb 2010 – 24th Feb 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 19,318,181 Equity Shares of Rs 10 each
Issue Size : Rs 170.00 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 88 – Rs. 90 Per Equity Share
Minimum Bid Quantity : 60 Shares (Rs. 5400 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2220 Shares (Rs. 19980 with 37 Lots ) @ upper level of price band
Listing At : BSE, NSE

The Sole Book Running Lead Manager (BRLM) to the offer is Saffron Capital Advisors Private Limited.

Registrar of the Issue : Sharex Dynamic (India) Pvt. Ltd. Mumbai.

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

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