Published on Mon, Dec 18, 2006 at 16:45 | Source : Moneycontrol.com
Updated at Mon, Dec 18, 2006 at 19:36
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Tanla Solutions fixes issue price at Rs 265
Tanla Solutions, a provider of integrated telecom solutions and products for the wireless market, has fixed the issue price at Rs 265 per equity share of Rs 2 each.
Tanla Solutions, a provider of integrated telecom solutions and products for the wireless market, has fixed the issue price at Rs 265 per equity share of Rs 2 each, as per press release.
This is the higher end of the price band of Rs 230 to Rs 265 per equity share of Rs 2 each fixed for its public offer of 1,58,85,000 equity shares. The company has raised Rs 420.95 crore including the promoter's contribution of Rs 42.10 crore through this issue. The public issue opened on December 11, 06 and closed on December 14, 06
The issue had received an excellent response from the investors and was subscribed 39 times and build the book to over Rs 14,500 crore. The book was built with overwhelming response to the QIB portion which was oversubscribed 57 times. The HNI portion was subscribed 41.56 times and the retail portion 11.10 times. The offer received over 2.45 lakh bids. SBI Capital Markets, IL&FS Investsmart and ICICI Securities are the BRLMs for the issue. The existing equity shares of the company are listed on Hyderabad, Ahmedabad and Madras Stock Exchanges.
The total income of Tanla Solutions on a consolidated basis was Rs 57.3 million in fiscal 2004, Rs 223.9 million in fiscal 2005, Rs 630.2 million in fiscal 2006 and Rs 871.33 million for the half year ended September 30, 2006. Consolidated EBIDTA was Rs 32.2 million in fiscal 2004, Rs 76.5 million in fiscal 2005, Rs 350.9 million in fiscal 2006 and Rs 446.94 million for the half year ended September 30, 2006. Consolidated profit after tax was Rs 30.4 million in fiscal 2004, Rs 68.4 million in fiscal. 2005, Rs 302.5 million in fiscal 2006 and Rs 357.09 million for the half year ended September 30, 2006.
Tanla Solutions specializes in providing SS7 (Signalling System 7) messaging infrastructure software products including s and caller ring also offer messaging applications & billing services (Aggregator Services) and offshore services including software development, infrastructure management services and technical support services.
The subsidiary Tanla Solutions (UK) has Tanla Mobile (previously known as Mobizar) 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.
This is the higher end of the price band of Rs 230 to Rs 265 per equity share of Rs 2 each fixed for its public offer of 1,58,85,000 equity shares. The company has raised Rs 420.95 crore including the promoter's contribution of Rs 42.10 crore through this issue. The public issue opened on December 11, 06 and closed on December 14, 06
