MUMBAI: GSS America Infotech will hit the capital market on Monday with a public issue of 34,97,495 equity shares of Rs 10 each through 100 per cent book building process. The company has fixed the price band at Rs 400-440 per share. The issue closes on Friday.
The issue comprises of 1,57,495 equity shares for employees and 33,40,000 share net issue to the public, constituting 25.11 per cent of the post issue paid up capital.
GSS America Infotech, a total IT solution provider, plans to utilize the funds for setting up art of global delivery centre at Hyderabad, overseas offices, meeting the working capital requirements, and for acquisitions. Presently the company has two Global Delivery Centers at Jubliee Hills and Hitech City.
It also plans to acquire facilities in Europe, Middle East and Far East. These will look after implementation and marketing functions in their respective regions. These offices are expected to stabilize their functions and establish themselves in 2 years from start-up, spanning fiscal 2008, 2009 and 2010.
The company has acquired an office in Dubai. It is a key component of its strategy to grow through acquisitions and strategic parternerships
The issue comprises of 1,57,495 equity shares for employees and 33,40,000 share net issue to the public, constituting 25.11 per cent of the post issue paid up capital.
GSS America Infotech, a total IT solution provider, plans to utilize the funds for setting up art of global delivery centre at Hyderabad, overseas offices, meeting the working capital requirements, and for acquisitions. Presently the company has two Global Delivery Centers at Jubliee Hills and Hitech City.
It also plans to acquire facilities in Europe, Middle East and Far East. These will look after implementation and marketing functions in their respective regions. These offices are expected to stabilize their functions and establish themselves in 2 years from start-up, spanning fiscal 2008, 2009 and 2010.
The company has acquired an office in Dubai. It is a key component of its strategy to grow through acquisitions and strategic parternerships
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