Jul 26, 2007, 03.31 PM | Source: Moneycontrol.com
Zylog Systems Ltd IPO subscribed over 76.35 times
The IPO of Zylog Systems Limited , a global IT solutions and services provider delivering technology-driven business solutions, has received an excellent response from investors and was subscribed 76.35 times this evening when the issue closed. In the category of HNI it was subscribed by 143.96,QIB 89.15,RETAIL 35.04. The number of applications received were 261,186. The public issue of 3,600,000 equity shares of Rs 10 each in the price band of Rs.330 to Rs.350 per equity share, opened on 20th July 2007. Motilal Oswal Investment Advisors Pvt. Ltd. is the Book Running Lead Manager for the issue.
The company intends to utilize the net proceeds of the issue to set up two state of the art Offshore Development Centres (ODCs), to fund acquisitions and strategic investments and to meet the increasing working capital requirement.
Sourced From: Concept Public Relations India Pvt. Ltd