Tanla Solutions IPO subscribed more than 33 times

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The IPO of Tanla Solutions Ltd. has received an excellent response from investors and has been subscribed more than 33 times despite the stock market crash of over 1000 points on BSE sensex.

The company entered the capital market on 11th December 2006 with a public issue of 15,885,000 equity shares of Rs.2 each in the price band of Rs.230 to Rs.265 per equity  share. The issue closed today. SBI Capital Markets Ltd, IL&FS Investsmart Ltd. and ICICI Securities Ltd. are the BRLMs for the issue.

Tanla Solutions Ltd is a provider of integrated telecom solutions and products for the wireless market, which commenced  commercial activities in the areas of telecom signalling solutions in 2000. It specializes in providing SS7 (Signalling System 7) messaging infrastructure software products including Short Messaging Service Centre (SMSC), High Density Media Servers (HDMS), optimal routing solutions, welcome roamers, voice mail servers and caller ring also offer messaging applications & billing services (Aggregator Services) and offshore services including software development, infrastructure management services and technical support services.

Its head office and delivery centres are located at Hyderabad, India and worldwide marketing is undertaken through its subsidiary Tanla Solutions (UK) Limited, London, United Kingdom. The subsidiary Tanla Solutions (UK) Limited has Tanla Mobile Limited (previously known as Mobizar Limited) as a wholly owned subsidiary providing Aggregator Services to all the major mobile network operator in the United Kingdom.

In conjunction with marketing and selling its telecom products and services overseas, the company maintains a substantial portion of its cost base in India. Lower manpower costs in India compared to the UK and other overseas markets brings it better margins compared to many competitors. 

Sourced From: Concept Public Relations India Pvt. Ltd