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Business EconomyPosted at: Sep 19 2017 8:20PM


Cadsys Ltd’s IPO to pen from Sep 21

Hyderabad, Sept 19 (UNI) City- based Cadsys (India) Limited, an existing, profit making company into Information Technology Enabled Services (ITeS) catering largely to US based clients, will open its Initial Public Offering (IPO) on September 21.
The Public Issue will be of 21,00,000 equity shares of face value of Rs 10 each for cash at a price of Rs 70 per equity share aggregating Rs 1,470 lakhs. Of these, 1,08,000 shares will be reserved for subscription by Market Maker.
The Net Issue will constitute 26.55 per cent of the fully diluted post-Issue paid up equity share capital of the Company.
The shares would be listed on NSE Emerge, the SME platform of National Stock Exchange. The IPO will close on September 25. Saffron Capital Advisors Private Limited is the sole Lead Manager to the Issue.

The net proceeds of the Issue will be utilised towards part payment/pre-payment of long term loan availed by the Company and towards general corporate purposes, a company statement said here today.
UNI VV PY 2020
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