The Hindu Business Line : TAKE Solutions IPO on Aug 1

The company plans to issue 21-lakh equity shares of Rs 10 each. At the upper end of the price band of Rs 675-Rs 730, the company will raise about Rs 153 crore.

The issue proceeds will be deployed to fulfil the company’s inorganic growth aspirations and to repay the debt utilised for the acquisition of ClearOrbit Inc, said Mr Srinivasan H.R, Vice-Chairman, TAKE Solutions. In June, TAKE Solutions Inc, USA had acquired the Texas-based ClearOrbit for $20.60 million.

Allocations

The issue will constitute 17.5 per cent of the fully diluted post issue paid-up equity capital of the company.

Established in 2001, TAKE Solutions provides business solutions in supply chain management and life sciences.

Up to 60 per cent of the net issue will be available for allocation on a proportionate basis to Qualified Institutional bidders (QIB); up to 5 per cent of the QIB portion shall be available for allocation to mutual funds only.

Further, up to 30 per cent of the net issue shall be available for allocation on a proportionate basis to retail individual bidders while 10 per cent of the issue will be allocated on a proportionate basis to non-institutional bidders.

The issue opens for subscription on August 1 and close on August 7