Financial Daily from THE HINDU group of publications
Friday, Aug 19, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 19, 2005 |
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Markets
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IPOs Info-Tech - IPOs Sasken Comm IPO subscribed 78 times Our Bureau
Bangalore , Aug. 18 SASKEN Communication Technologies Ltd's initial public offer has been subscribed by over 78 times. The issue closed on Wednesday. Sasken had fixed a price band of between Rs 230 and Rs 260 per share. The company is issuing five million shares at a face value of Rs 10 each at cash through the public issue, which is 100 per cent book-built. The company, which entered the market on August 11, expects to raise between Rs 115 crore and Rs 130 crore from the public issue, which is 100 per cent book built. The company has reserved half a million shares to its employees and the net offer to public would constitute 16.39 per cent of the fully diluted post-issue paid-up equity capital.
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