Comments
Acropetal Technologies – an outsourcing service provider in healthcare, energy and environment verticals – has fixed the price band for its Rs 170-crore initial public offering at Rs 88-90 a share.
The issue will open on February 21 and will close on February 24.
The issue proceeds will be used to fund the company's potential acquisitions, to set up a software development centre cum corporate office in Bangalore and also for its expansion and establishment of overseas offices in the US, the UK, West Asia and South East Asia. The company has its presence in Dubai, the UAE through its subsidy Vision Info Inc.
The shares of the company will be listed on the BSE and NSE.
The Qualified Institutional Bidders will be allotted 50 per cent of the shares, 15 per cent to High Networth Individuals and 35 per cent to retail investors.
Rating agency ICRA assigned a grade of 3/5 for the company's IPO indicating average fundamentals.
Saffron Capital Advisors is the sole book running lead manager to the issue.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.