The Hindu Business Line : Tanla Solutions plans public issue

TANLA Solutions Ltd, a telecom infrastructure solutions provider, is set to enter the capital market with a follow-up issue of 1.59 crore equity shares of Rs 2 each through 100 per cent book building process.

The company has filed the draft red herring prospectus with SEBI and is awaiting the nod. The issue may hit the market in January. The offer would precede the company's earlier decision to split the Rs 10 equity share into five shares of Rs 2 each.

SBI Capital markets Ltd is the book running lead manager for the issue and Karvy Computershare is the registrar for the issue.

Speaking to Business Line the Chief Financial Officer of Tanla Solutions, Mr Akash Rukhariyar, said the company plans to utilise the funds for consolidation and expansion of the development facilities and to strengthen its R&D team.

The company is in the process of developing a campus about 25 km from the city on a 6.25-acre site.

As a part of the global expansion strategy, Tanla plans to establish four more international marketing offices - two in the US and one each in Australia and Singapore. The company further proposes to locate more project centres and nodal maintenance centres to bring in a decentralised approach to offering services.

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