Patni plans $100 million ADR issue

By agencies   |   Wednesday, 16 February 2005, 08:00 Hrs
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MUMBAI: Patni Computers is planning an ADR issue of about $100-120 million in the second half of this year, company sources said.

The company will meet on Feb 19 to discuss the ADR issue. The sixth largest software services company in India wants to use the part of funds to acquire companies to accelerate its growth. The Mumbai based company had recently acquired Cymbal in the US to build its telecommunication practices.

The company had recently revamped its organizational structure along industry verticals.

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