Taksheel Solutions files IPO papers with SEBI
Hyderabad based Taksheel Solutions (TSL) has filed draft red herring prospectus with the market regulator SEBI for 55 lakh equity shares IPO.
January 03, 2011 / 14:39 IST
Hyderabad based Taksheel Solutions (TSL) has filed draft red herring prospectus with the market regulator SEBI for 55 lakh equity shares IPO.
TSL is an IT solution company focused on providing products and services for the companies engaged in financial services industry & telecom.Lexicon Private Limited holds 56.54% stake in company, which will be 42.31% post issue. Promoters Pavan Kumar Kuchana and Ramaswamy Kuchana also hold some stake in company. Total promotoer holds will be reduced from 63.31% to 47.37% post issue.Currently Verisoft Business Solutions Pvt. Ltd too holds 13.84% stake and Sparrow Hill Advisory Private Limited 13.76% stake in company.Company proposes to use issue proceeds for setting up a new software development center at Hyderabad; for setting up a new software development center at Warangal; acquisitions and other strategic initiatives; and financing the incremental working capital requirements.Revenues increased from Rs 3543.03 lakh in FY09 to Rs 4950.15 lakh in FY10, especially due to better business operation and strategic acquisitions in recent past. Its 5-year CAGR in profit stood at 63.50% till FY10.PNB Investment Services is the book running lead manager to issue. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
