Financial Daily from THE HINDU group of publications
Saturday, Mar 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Mar 18, 2006 |
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Info-Tech
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IPOs Xenitis Info plans IPO Our Bureau
New Delhi , March 17 IT company Xenitis Infotech is planning to come out with an initial public offering (IPO) by the middle of this year to raise Rs 250 crore. The proceeds of the proposed public issue would be utilised for increasing the existing manufacturing capacity and for getting into new areas of production including monitors. "We are planning an IPO to raise Rs 250 crore in July-August, this year. The money raised will be spent on augmenting manufacturing capabilities," Mr Tathagatha Datta, Managing Director of Xenitis Infotech, said at a conference here. The company plans to put on the block up to 25 per cent stake through the offer, he said. "We have also tied up with a TFT manufacturing company and will set up a separate facility for manufacturing TFT and CRT monitors," he said. The company has manufacturing units in Hooghly district, West Bengal.
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