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Sep 04, 2012, 06.22 PM IST
Shares of educational ERP solutions provider Jointeca Education Solutions managed to hold the issue price on day 1. The stock touched an intraday high of Rs 15.25 on the BSE SME, before closing at issue price of Rs 15.
The share was opened at Rs 15.20, which has lower circuit limit of Rs 14.45 and upper limit of Rs 15.95. The company offers educational ERP solutions through its product GuruSeva and its business is concentrated mainly in the Northern Region of India. It also offers online education through website portal www.shiklo.in . Jointeca raised Rs 5.35 crore through the issue of 35,68,700 equity shares. It proposed to be used for expanding product Guruseva (educational ERP solution) under BOOT model through cloud computing solutions, establishing and expanding infrastructure for B2B educational portal www.shiklo.in , and the promotion and branding expenses for setting up robust sales network for products.
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