Financial Daily from THE HINDU group of publications
Saturday, Sep 10, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 10, 2005 |
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Markets
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Stocks Info-Tech - Software Sasken lists at 54% premium on BSE Our Bureau
Bangalore , Sept. 9 THE shares of Sasken Communication Technologies Ltd made a debut listing on Friday on the Bombay Stock Exchange at Rs 400 a share, a 54 per cent premium to its initial public offer price of Rs 260 a share. Sasken shares closed the day at Rs 466.40, about 79 per cent higher than the initial public offer price. Telecom software firm Sasken's five-million-share IPO was oversubscribed 79 times and was priced at Rs 260. Of the total issue, about five lakh shares were reserved for allotment to the company's employees. The remainder of the offer constitutes 16.36 per cent of Sasken's post-issue paid-up equity. Sasken plans to use the Rs 130-crore issue proceeds to set up a campus for software development in Bangalore and meet its working capital requirements.
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