XL Telecom fixes its IPO price band at Rs 125

Mumbai, Nov 27: XL Telecom Limited, a Hyderabad-based company with a turnover of Rs 395 crore, has fixed the price band of its initial public offering(IPO) at Rs 125 to Rs 150 per equity share with a face value of Rs 10 each.

Addressing a press conference here today, company Managing Director Dinesh Kumar said the IPO seeks to raise Rs 49.46 crore at the lower end of the price band and Rs 59.35 crore at the upper end.

The issue opens on December four and closes on December seven, 2006 and the would be listed on Bombay Stock Exchange(BSE) and National Stock Exchange (NSE).

Anand Rathi Securities and Centrum Capital are the Book Running Lead Managers, while Enam Securities is the Syndicate member and Bigshare Services is the Registrar for the issue.

The proceeds of the issue would be used partly for funding the capital expenditure for expanding the Module making capaicty of Solar Photovoltaic (SPV) division and setting up of facilities for Surface Mounting Technology (SMT) Lines to produce the PCB's used in mobile phones, besides for repayment of term loans and long term working requirement for Fixed Wireless Phone(FWP) business.

UNI