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Omnitech InfoSolutions lists with 75% premium

Omnitech InfoSolutions lists with 75% premium
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First Published: Tue, Aug 14 2007. 12 32 PM IST
Updated: Tue, Aug 14 2007. 12 32 PM IST
PTI
Mumbai: Technology services provider Omnitech InfoSolutions got listed on 14 August with a premium of 75% at Rs183.75 over its issue price of Rs105.
The scrip evoked good buying interest and within minutes of listing over 11.28 lakh shares exchanged hands on Bombay Stock Exchange (BSE) while over 21.89 lakh shares got traded on National Stock Exchange (NSE).
The scrip later shed some gain and was trading at Rs165.50 on BSE and Rs167.40 on NSE at 10.05am.
The company entered the bourses with over 1.31 crore equity shares at an issue price of Rs105 each.
Omnitech InfoSolutions intends to deploy the issue proceeds to fund acquisitions or strategic investments, setting up of overseas offices, enhancement of existing facilities and starting new technology centres.
The company has earmarked Rs19 crore for acquisitions and Rs7 crore for setting up a technology centre in Pune to consolidate its position in overseas market. Omnitech is also setting up a disaster recovery centre in Dubai besides overseas offices.
The company’s product offering includes business availability services, business continuity services, systems integration solutions and framework solutions.
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First Published: Tue, Aug 14 2007. 12 32 PM IST