Financial Daily from THE HINDU group of publications
Thursday, Feb 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 02, 2006 |
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Markets
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Events Investsmart brokers meet Our Bureau
KOCHI: IL&FS Investsmart conducted a brokers meet recently as a prelude to the company's forthcoming public issue that opens July 4. Mr Sreesankar R., Head (Research), addressed the meet in which 30-40 brokers from the city participated. He said the proceeds from the fresh issue would be deployed for expansion of operations and branch network, technology investments relating to the existing business and scaling online business. The funds will also be invested in subsidiaries, to augment working capital and to meet issue expenses. Mr Sreesankar said the company proposes to set up overseas branches in Singapore, Hong Kong, London, Dubai and New York. IL&FS Investsmart is entering the capital market with 11.4 million equity shares of face value of Rs 10 each. The price band issue has been fixed at Rs 110-Rs 125.
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