Financial Daily from THE HINDU group of publications
Sunday, Feb 13, 2005
Financial Daily from THE HINDU group of publications Sunday, Feb 13, 2005 |
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Info-Tech
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Outsourcing Markets - IPOs Allsec files IPO draft prospectus Our Bureau
Mumbai , Feb. 12 ALLSEC Technologies Ltd, the Chennai-based BPO service-provider, has filed its draft prospectus for its initial public offer with the Securities and Exchanges Board of India. The company proposes to issue 31.412 lakh equity shares of Rs 10 each for cash at a premium to be decided through a book-building process, according to a company press release. The company has reserved 1.496 lakh equity shares to be allotted to employees. Of the balance shares, 50 per cent has been reserved for allotment to qualified institutional buyers on a discretionary basis, 25 per cent for non-institution investors, and the remaining 25 per cent will be allotted to retail investors on a propionate basis, said the release. Dr Bala V. Balachandran, non-executive Chairman of Allsec, who heads the Accounting Research Centre at Kellogg Graduate School of Management, advises Allsec on strategies and corporate governance. The book-running lead managers for the issue are IL&FS Investsmart Ltd and Kotak Mahindra Capital Company Ltd, said the release.
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