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BS Transcomm to raise Rs 200 crore via Oct IPO

BS Transcomm to raise Rs 200 crore via Oct IPO
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First Published: Thu, Sep 23 2010. 03 27 PM IST
Updated: Thu, Sep 23 2010. 03 27 PM IST
Mumbai: Telecom and power infrastructure maker BS Transcomm Ltd is planning to raise about Rs 200 crore through an initial public offering (IPO) set to open in October, its managing director said on Thursday.
“50% of the proceeds will be used for expansion of manufacturing facility and 50% will be used for margins and working capital,” Rajesh Agrawal told Reuters.
JM Financial is the lead manager to the issue.
The company had earlier filed the initial papers in Sept 2008, but rescheduled the IPO due to bad market conditions and updated the initial papers in August 2009.
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First Published: Thu, Sep 23 2010. 03 27 PM IST
More Topics: BS Transcomm Ltd | IPO | Telecom | Power | JM Financial |