Financial Daily from THE HINDU group of publications
Thursday, May 18, 2006
Financial Daily from THE HINDU group of publications Thursday, May 18, 2006 |
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Markets
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IPOs Info-Tech - Telecommunications Our Bureau
Hyderabad , May 17 XL Telecom Ltd, a Secunderabad-based company, has filed draft red herring prospectus with SEBI to raise funds to meet expansion plans. The company is set to shortly come out with a public issue of 39 lakh shares and plans to raise funds through a book-building process. Anand Rathi Securities and Centrum Capital Ltd will serve as book running lead managers and Bigshare Services has been engaged as the registrar. The former Chairman and Managing Director of Allahabad Bank and Bank of India, Dr R. Srinivasan, is the Chairman of the Rs 300-crore company. The diversified company manufactures CDMA handsets in tie up with Kyocera, as also solar photovoltaic systems and ethanol.
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