Cambridge Tech enterprises ltd offers equity shares

New Delhi, Jun 7 (UNI) Cambridge Technology Enterprises Ltd (CTEL) today filed its Draft Prospectus with the Security and Exchange Board of India (SEBI), offering equity shares of Rs 10 each in the price band of Rs 63 to Rs 73 per share -- aggregating to Rs 2400 lakh.

Centrum Capital Ltd will be the sole Lead Manager for the issue while Big Share Pvt Ltd will be the Ragistrar.

The company intends to utilise the funds raised through this issue to part finance its expansion plans, including expansion of facilities, certifications and training activities to set up Service Oriented Architechture (SOA) competency centres, invest in intelectual property development, reusable framework development, acqisitions, setting up of oversees offices and providing additional working capital.

CTEL, an IT service provider, focuses on solving claints business problems by creating well designed IT solutions through innovation, globalisation and adoption of emerging technology trends in SOA.

The company delivers solutions through its CMMI level five collaborative global delivery model that uses a solution delivery approach of managing business transformation and change successfully through alignment of stakeholders from the business, technology and the end user.

The equity shares are proposed to be listed on the BSE and NSE.

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