The Hindu Business Line : Cambridge Tech IPO opens on Dec 29

NEW OFFER: Mr Bhaskar Panigrahi (right), Chairman & CEO, Cambridge Technology Enterprises Ltd, and Mr Ramesh Reddy Y, Chief Financial Officer, at a press conference to announce the company's IPO in Mumbai on Tuesday. - Paul Noronha

Hyderabad , Dec. 19

Cambridge Technology Enterprise Ltd, a technology solutions provider for mid-sized companies in the US, is entering the capital market with a public issue of 63.15 lakh equity shares of Rs 10 each for cash at a price of Rs 38 per share (including premium of Rs 28) aggregating Rs 24 crore.

The issue opens on December 29 and closes on January 9, 2007. While the promoters would be contributing about Rs 8.58 crore and allotted 22.57 lakh shares at Rs 38, Centrum Capital Ltd is being allotted 5,000 shares.

Centrum Capital Ltd is the lead manager for the issue and Bigshare Services is registrar.

The IPO has been graded Care IPO Grade 2 by CARE.

A SEI CMM Level 5 company Cambridge provides solutions and services and helps enterprises transform their business. This it does through a services oriented architecture and has clientele in verticals such as energy, utilities, insurance, financial services, logistics among others.

The company has its operations headquartered in MIT Campus in Cambridge, Massachusetts, and operates through the subsidiary and has a development cum support centre in India.

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