![]() Zylog Systems plans IPO; embarks on Rs 66.7cr expansionPublished on Sat, Mar 10, 2007 at 14:53 | Source : Moneycontrol.com Updated at Sat, Mar 10, 2007 at 15:11
ZSL's customer base is spread across a wide spectrum and they include names like Barclays, Field Power, Metlife, Volt Telecom, Lehman Brothers and JP Morgan Chase. Zylog intends to invest Rs 66.71 crore to set up two Offshore Development Centres (ODCs) at Sholinganallur and Siruseri to enable it to increase its offshore business. The company also plans to spend on acquisitions, which are a strategic fit and in line with its future goals. This will help Zylog deepen its domain expertise, expand service lines, obtain access to new markets / verticals and enhance its technology footprint. These acquisitions will also result in several benefits for Zylog, namely, positive contribution to revenue and profitability, expansion in clientele, cross selling opportunities and increase in offshore business. To part finance its expansion plans, the company soon proposes to enter the capital market with a public issue of 36,00,000 equity shares of Rs 10 each through the book building route. The company has filed the draft red herring prospectus (DRHP) with Sebi. Motilal Oswal Investment Advisors is the book running lead manager, while Karvy Computershare is the registrar.
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