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HOV Services to enter capital market with 4,050,000 equity shares

Written by: Staff

New Delhi, Apr 14 (UNI) HOV Services, global Business Process Outsourcing (BPO) providers today announced its plans to enter the capital market with an Initial Public Offering (IPO) of 4,050,000 equity shares.

The company will offer 4,050,000 equity shares of face value Rs 10 each through a 100 per cent book building process.

The announcement was accompanied by filing its Draft Red Herring Prospectus (DRHP) with Securities Exchange Board of India (SEBI).

The company plans to infuse the funds into a subsidary for redemption of class B units issued by it to entities that were managed or controlled by the promoters of the company for acquisitions.

The Book-Running Lead Manager and co-Book-Running Lead Mananger are DSP Merill Lynch Ltd and J M Morgan Stanley respectively.


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