Fatpipe Networks India has fixed a price band for its public issue at Rs 82-85 a share. The issue will open for subscription on June 7 and will close on June 9, 2010.
The company provides global corporations and government offices with technology that increases the security and reliability of Wide Area Networks, corporate extranets, Virtual Private Networks and all last-mile Internet connections, including wireless connectivity.
The company holds patents on a technology called 'Router-Clustering', which enables customers to obtain highly redundant and fast Internet/WAN access.
Promoters and their group hold 37.29% stake in the company. Major shareholders like Sanchaita Datta, vSpring Management and Ragula Bhaskar have over 16% stake each in the company.
Issue proceeds will be used for expanding the product line with enhanced research and development activities, specifically for development of new product-lines; for establishing 16 new Marketing Offices across the globe including additional offices in the USA; for strategic acquisition of business/ company and for margin money for working capital requirement. The company estimated cost for above objects at Rs 6.76 crore, Rs 10.08 crore, Rs 15 crore and Rs 7.2 crore, respectively.
The book running lead manager to the issue is Keynote Corporate Services and Karvy Computershare Private Limited is the registrar.
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Monday, May 31, 2010
Share to win ~ Fatpipe Networks issue opens on June 7
Posted on Monday, May 31, 2010 by share4win
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