• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

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

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

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

Our Bureau

Mumbai , Feb. 6

PARADYNE Infotech Ltd, a Mumbai-based software solutions and IT services provider, is planning an initial public offering (IPO) of 33 lakh equity shares of Rs 10 each at a premium of Rs 32 per share, aggregating to Rs 13.86 crore, said a press release.

The company has filed its draft prospectus with the Securities and Exchange Board of India, said the press release.

Paradyne Infotech is promoted by Mr Anand Sarnaik . Post-IPO, his shareholding, currently at 99.38 per cent, will come down to 69.23 per cent.

According to the press release, the object of the IPO, which is slated to hit the market in mid-March, is to raise funds for expansion and modernisation; upgrade products; set up a data centre and call centre and expand the branch network.

Paradyne with an annual turnover of Rs 51 crore in fiscal 2003-04, is implementing a capital expenditure programme of Rs 14.01 crore.

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

Stories in this Section
Impressive client additions in Dec 2004

Copyright © 2005, 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