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Our Bureau

Mumbai , Jan. 16

PATNI Computers Systems Ltd has announced an indicative price band of Rs 200-230 for its IPO. The offer comprises fresh issue of 1.34 crore equity shares of Rs 2 each and a sale of 53.2 lakh equity shares of Rs 2 each, aggregating 1.872 crore equity shares.

At this price band, the offer size would be Rs 374.5 crore-Rs 430.7 crore with the offer open for bidding from January 27 to February 5.

Patni proposed to list the equity shares through a 100-per cent book-building offer on the BSE and NSE. The offer would constitute 15 per cent of the fully diluted post-issue paid-up capital of the company, according to a company release.

Patni recorded total revenues of $188.3 million in 2002, based on consolidated financial statements prepared in accordance with US GAAP. Over the three years (CY2000-2002), Patni has shown a consistent CAGR of 36.4 per cent in revenues.

With domain expertise in the insurance, financial services and manufacturing industries, Patni is building expertise in other verticals such as energy, utilities, retail and hospitality.

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