Financial Daily from THE HINDU group of publications
Saturday, May 27, 2006

Cross Currency

Group Sites

Info-Tech - Software
Markets - IPOs

Cambridge Tech plans Rs 35-cr IPO

Our Bureau

Hyderabad , May 26

Cambridge Technology Enterprises Ltd, a Hyderabad-based IT services provider, is poised to enter the capital market with its maiden issue to meet its expansion plans.

The CFO, Mr Ramesh Reddy, said Cambridge, a SEI CMM Level 5 process company, has identified services oriented architecture as its main technology offering for enterprises globally.

The company simplifies enterprise technology architecture, thereby saving on enterprise costs and maintenance.

"This move to tap the market is akin to the strategy adopted by the core promoters of the company."

Speaking to Business Line, Mr Reddy said the company has also identified some target for acquisition and the issue would part-fund this expansion strategy. "We are on course to file a draft red herring prospectus with the SEBI, potentially early June, for the proposed IPO."

The company was carved out after the US operations were acquired by Unique Solutions and later renamed CellXchange.

The company was formed with funding from Internet Business Capital Corporation; Mr Bhasker Panigrahi and Mr Krishna Nandyala are core promoters. They expect to raise Rs 30-35 crore from the IPO.

More Stories on : Software | IPOs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Idea announces 12-city Indian musical concert

VSNL long distance calling cards illegal, rules TDSAT
Football World Cup on Airtel
FLAG Tele wins arbitration case against VSNL
SunGard's second facility
Cambridge Tech plans Rs 35-cr IPO
`Top 3 Indian services cos way ahead of global peers'
Virtusa campus recruitment
MphasiS chief to sell 18.75 lakh shares to EDS
Malaysian co partners Sierra
BSNL concern over unbundling of copper network

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line