Quotes with Resistance & Support
Market Information

Nu Tek India IPO price fixed at Rs 192/sh

This article was posted on Aug 6, 2008 and is filed under Press Releases

Nu Tek India Limited, a telecom infrastructure services provider offering infrastructure rollout solutions for both mobile and fixed telecommunication networks, has fixed the Issue price at Rs. 192 per equity share (the upper end of the band) for its initial public offering (“IPO”) of 4,500,000 equity shares of Rs. 10 each (“Equity Shares”) for cash at a price to be determined through 100% book building process (the “Issue”). The Issue, which opened on July 29, 2008, and closed on August 1, 2008, was over subscribed 1.63 times.

The portion reserved for Qualified Institutional Buyers (“QIBs”), which included foreign institutional investors, got over subscribed approximately around 2.05 times (according to preliminary data received from the National Stock Exchange), while the Non-Institutional Investor portion, which included corporates, individuals and others, was over subscribed approximately around 1.78 times. The retail investor portion was also fully subscribed.

The Issue comprised a fresh issue of 3,500,000 equity shares and an offer for sale of 1,000,000 equity shares by a strategic investor. The price band was fixed between Rs 170 and Rs 192 per equity share. The Issue constitutes 26.07% of the fully diluted post-issue paid up equity share capital of the Company.

The Company intends to utilise the proceeds from the Issue to meet the cost of capital expenditure, overseas acquisitions and augmenting the long term working capital requirement amongst others.

The Company’s expertise lies in the breadth of services it offers in the telecom infrastructure space. It offers all outsourced services related to design, installation, construction, operation and maintenance of telecom networks. It offers services to telecommunication equipment manufacturers, telecom operators as well as third party infrastructure leasing companies in installing and maintaining telecom network equipment & infrastructure. It is also registered with Department of Telecommunication as Infrastructure Provider – Category I. The clients of the company include Bharti Airtel, Reliance Communications, Aircel, Nokia, Ericsson, Motorola, etc.

The equity shares of the Company are proposed to be listed on Bombay Stock Exchange (“BSE”) and National Stock Exchange (“NSE”).

The book running lead managers to the Issue are SPA Merchant Bankers Limited and India Infoline Limited.

Tags: , , , ,

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Samrudhiglobal.com wishing you and your friends and family Advance xmas and Happy New year...view more »
- by Sam
Status: Awaiting reply

Market Stats

Search Our Archives

Latest Investment Idea

Recent Comments