• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Eyes BSE, NSE listing

NEW ISSUE: Mr D. Uday Kumar Reddy (right), CMD, Tanla Solutions Ltd, with Mr Amit Gupta, Director, at a press conference to announce the company's public issue in Mumbai on Monday. - Paul Noronha

Mumbai , Nov. 27

Tanla Solutions Ltd, a provider of integrated telecom solutions and products, is coming out with a follow-on public issue to raise around Rs 421 crore in the price band of Rs 230-265 per share.

The proceeds of the issue will primarily be used to capitalise future expansion plans, said a statement from the company.

On offer are 1.59 crore equity shares forming about 28.59 per cent of the fully diluted post issue paid-up capital of the company.

The issue opens for subscription on December 11 and closes on December 14.

The company's shares are currently listed on the Hyderabad, Ahmedabad and Madras stock exchanges. After the current offer, the company is proposed to be listed on these exchanges as well as on the BSE and the NSE.

The company plans to set up an infrastructure facility for a development center in Hyderabad at an estimated cost of Rs 77.2 crore. It also intends to set up infrastructure facilities for a back up disaster recovery centre in Bangalore at an estimated cost of Rs 22 crore and establish oversees marketing offices at an investment of Rs 4.06 crore.

"We are looking at organic growth across geographies in order to augment our revenue streams," said Mr Amit Gupta, Director, Tanla Solutions Ltd. The company's geographical expansion will be into the US, Australia and other parts of Europe, he added. SBI Capital Markets Ltd, IL&FS Investsmart Ltd and ICICI Securities Ltd are the lead managers to the issue.

More Stories on : Public Offer | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Repugnance can be a real constraint on markets

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line