Aishwarya Telecom is open for subscription with an initial public offering of 52 lakh shares at a price band of Rs 32-35 per share. The issue will close for subscription on April 17, 2008.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures telecom fiber optic products. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Tuesday, April 15, 2008
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