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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

Acropetal Technologies goes IPO

Hari Anil
Tuesday, March 1, 2011
Hari Anil
Acropetal Technologies, a company with focus on competency based verticals such as Healthcare Services, Energy and Environment Services amongst others, entered the capital market on February 21, 2011, with Public Issue of Equity Shares of 10 each in the Price Band of 88 to 90 per Equity Share for cash aggregating 170 crores.

The Equity shares are proposed to be listed on the Bombay Stock Exchange (“BS”) and the National Stock Exchange of India (“NSE”). “The objectives of the IPO as mentioned in the Red Herring Prospectus (RHP) are to finance for potential acquisitions, to set up a software development centre and corporate office in Bangalore, expansion and establishment of overseas offices in the U.S., UK, Middle east and South East Asia, part payment of term loans, and additional working capital requirements,” says D. Ravi Kumar, Managing Director of Acropetal Technologies.

“The Issue is being made through a 100pc book building process in terms of the red herring prospectus dated February 2nd and the equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE),” adds Kumar.
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