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Moneycontrol » News » IPO - Tip ![]() Accel Frontline IPO poll: Experts opinion mixedPublished on Fri, Sep 29, 2006 at 19:45 | Source : Moneycontrol.com Updated at Fri, Sep 29, 2006 at 19:50
Accel Frontline, an information technology services provider specializing in consulting, infrastructure, applications, outsourcing and support services, is open for subscription with an initial public offering, IPO of 56,35,950 equity shares of Rs 10 each through 100% book building process in the price band of Rs 75 to Rs 90. The issue closes on October 5, 2006. The issue would constitute 25.04% of the fully diluted post issue paid-up capital of the company. Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts opinion were mixed.
*(View taken from their reports)
Accel Frontline proposes to invest net proceeds of the issue to fund regional and global expansion plans and acquire and invest in strategic businesses. It also has plans to expand and improve its ESS and BPO infrastructure. The equity shares will be listed on the NSE and BSE. SBI Capital Markets is the BRLM and Bajaj Capital is the co-BRLM for the issue and Intime Spectrum Registry is the registrar. Further, atleast 15% of the offer to the public shall be available for allocation on a proportionate basis to non-institutional bidders and at least 35% of the offer to the public shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid bids being received at or above the issue price.
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