KPIT ISSUE OVERSUBSCRIBED BY WHOPPING 100 FOLD
Article Abstract:
The Rs12 crore public issue of KPIT Systems Limited (KPIT) of Pune, an information technology company, has been oversubscribed by 100 times. The company has raised Rs600 crore as application money. The issue had offered 12.9 lakh shares of Rs10 each at a premium of Rs80 per share to public. The issue involved upfront payment of half of the application money. The retail issue was oversubscribed by 25 to 30 times and the wholesale issue by 65 to 70 times. Enam Financial Consultants had lead-managed the issue. KPIT will be using the funds for setting up a software development centre at Pune. (ag)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
KPIT SYSTEMS: RIDING THE SOFTWARE BOOM
Article Abstract:
KPIT Systems recently came out with its maiden public offer with an issue of Rs11.61 crore at a premium of Rs80 per share. The proceeds of the issue will be utilised to set up a software development facility at Pune and to repay its long term borrowings. The company operates in the fields of migration and reengineering, data warehousing and enterprise resource planning, customised solutions and product development. The company's equity will be diluted by Rs1.29 crore and increase to Rs5.16 crore after the issue. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: NIIT PROPOSES 1:2 BONUS. NIIT PLANS $100-M KITTY TO ACQUIRE US COMPANY. NIIT LAUNCHES MPOWER-IT
- Abstracts: INFOSYS TO USE ADR FUND FOR EXPANSION. INFOSYS SET TO LIST ADR OFFER ON MARCH 11. INFOSYS 1:1 BONUS OKAYED
- Abstracts: SARGOD PLANTATIONS EYEING MAC'S COFFEE HOLDINGS MAC AGRO DEFERS SALE OF COFFEE ESTATES. COFFEE LANDS LIMITED
- Abstracts: THE LEADERS AND LAGGARDS, CIRCA 1998: TOP TEN INDUSTRY INDICES BY MARKET CAPITALISATION. THE LEADERS AND LAGGARDS, CIRCA 1998: TOP TEN INDUSTRY INDICES BY RETURNS
- Abstracts: ICICI BANK SET TO LAUNCH THIRD-PARTY NET BANKING. CITIBANK LAUNCHES EASY BUY LOAN. CITIBANK TO MOVE INTO LEASING, TRUCK FINANCING