Taksheel Solutions Fixes Price Band of 
130-150 for IPO
Mumbai: Taksheel Solutions Ltd, engaged in IT & telecom software business, has fixed the price band of 
130 to 150 per share for its initial public offer (IPO).
The company proposes to open the maiden issue with 55,00,000 equity shares on September 29 to raise funds for expansion.
"The issue price is 13 times of the face value at the lower-end of the price band and 15 times of the face value at the higher end of the price band. The company will dilute 25.17 per cent of post issue paid-up capital," a company statement said here.
Taksheel is a 100 per cent EOU, focused on the software for the wealth management industry in the US market.
It plans to use the proceeds for setting up new software development centres at SEZ in Hyderabad and Warangal, acquisitions and other strategic initiatives and financing the incremental working capital requirements, Taksheel Solutions CMD Pavan Kumar Kuchana said.
"We have witnessed enormous growth in the wealth management software industry in the past few years. We are planning to set up a new software development centre at SEZ in Hyderabad, Warangal and also looking at acquiring a midsized IT firm in the similar space to leverage our experience and growth in the industry," Kuchana said.
Source: PTI
130 to 150 per share for its initial public offer (IPO).
The company proposes to open the maiden issue with 55,00,000 equity shares on September 29 to raise funds for expansion.
"The issue price is 13 times of the face value at the lower-end of the price band and 15 times of the face value at the higher end of the price band. The company will dilute 25.17 per cent of post issue paid-up capital," a company statement said here.
Taksheel is a 100 per cent EOU, focused on the software for the wealth management industry in the US market.
It plans to use the proceeds for setting up new software development centres at SEZ in Hyderabad and Warangal, acquisitions and other strategic initiatives and financing the incremental working capital requirements, Taksheel Solutions CMD Pavan Kumar Kuchana said.
"We have witnessed enormous growth in the wealth management software industry in the past few years. We are planning to set up a new software development centre at SEZ in Hyderabad, Warangal and also looking at acquiring a midsized IT firm in the similar space to leverage our experience and growth in the industry," Kuchana said.