TAKE Solutions makes pre-IPO placement of 9 lakh shares

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The board of directors of TAKE Solutions, a business technology company with a focus on the life sciences and supply chain management solutions, has approved the allotment of 9,00,000 equity shares to Galleon International Master Fund SPC Limited - New Silk Route Pipe Segregated Portfolio; and Passport India Investments (Mauritius). 
 
Galleon Management LP, a New York based hedge fund advisor registered with America's SEC as an investment advisor, manages billions of assets under management. It specialises in managing long/short equity funds focusing on growth sectors of emerging markets. Passport India Investment (Mauritius) is a fund promoted by Passport Capital LLC, based in San Francisco, USA.
 
TAKE Solutions is in the process of initiating its initial public offer (IPO) of 2,100,000 equity shares of Rs 10 each for cash at a price to be determined through the 100% book-building mechanism. The issue comprises a net issue to the public of upto 2,000,000 equity shares and the reservation of upto 100,000 equity shares for subscription by eligible employees at the issue price. The net issue constitutes 16.67% of the fully diluted post issue paid-up equity capital of the company.