Net Alter Software IPO : Planning to raise Rs 48 crore

by khalid on 01/01/2011 · 0 comments

NetAlter Software Limited is planning to come up with an Initial Public Offer (IPO) in near future. The company plans to raise Rs 48 crore for its expansion projects and filed a DRHP with market regulator SEBI for the same. Currently, promoter and promoter group hold the entire 100% stake in the company. After the proposed IPO of 39 lakh equity shares of Rs 10 each, the promoters holding will be reduced to 27.24%.

The proceeds from the IPO will be utilized to develop and commercialize the NetAlter System and other software products and for other general corporate purposes. In addition to that the company plans to acquire an office of its own from the IPO proceeds.

Incorporated in 2005 and promoted by Rajesh C Rathod, Yogesh C Rathod, Vijay C Rathod, Dhirajlal L Shah, Nitin H Gada and Vanita D Shah, NetAlter Software Limited is a software development firm. It is presently developing social networking products and are also engaged in research and development of applications
based on NetAlter System.

Its products comprises of Community Hotline, Community Online, Matrimonial Hotline, Matrimonial Online, Family Connect, Friend Connect, Contact Manager and Bhav2bahv. Our tools and utilities comprise of CD Wizard, CD Viewer, Email Manager and Web Manger.

The sole book running manager to the issue is Arihant Capital Markets.

Stay tuned to BelltheBull Blog for more news on Net Alter Software IPO !

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