News Details

News Details

Nu Tek India Limited Issue Fully Subscribed


Friday, August 01, 2008

The IPO of Nu Tek India, a telecom infrastructure services provider offering infrastructure rollout solutions for both mobile and fixed telecommunication networks, has received total bids for 73,49,220 equity shares as against the total issue size of 45,00,000 equity shares and is subscribed 1.63 times, as per NSE website. The issue comprises a fresh issue of 3,500,000 equity shares and an offer for sale of 1,000,000 equity shares by a strategic investor.
 
The price band has been fixed between Rs 170 and Rs 192 per equity share. The issue constitutes 26.07% of the fully diluted post-issue paid up equity share capital of the company. The issue has been assigned an IPO grade of 3 out of 5 by rating agency, CRISIL Ltd.
 
The company intends to utilize the proceeds from the Issue to meet the cost of capital expenditure, overseas acquisitions and augmenting the long term working capital requirement amongst others.
 
The company’s expertise lies in the breadth of services it offers in the telecom infrastructure space. It offers all outsourced services related to design, installation, construction, operation and maintenance of telecom networks. It offers services to telecommunication equipment manufacturers, telecom operators as well as third party infrastructure leasing companies in installing and maintaining telecom network equipment & infrastructure. It is also registered with Department of Telecommunication as Infrastructure Provider - Category I.
 
The equity shares of the company are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
 
The book running lead managers to the Issue are SPA Merchant Bankers Limited and India Infoline Limited.
 
» Nu Tek India Limited - Anagram
» Nu Tek India Limited - Arihant
» Nu Tek India Limited - Sushil Finance
» Nu Tek India Limited - Hem Securities
» Nu Tek India Limited - S P Tulsian