TAKE Solutions completes pre-IPO placement of nine lakh shares

Chennai, June 12 (UNI) The Board of Directors of TAKE Solutions Limited, a business technology organisation focussing on life science and supply chain management solutions, has approved the allotment of nine lakh equity shares to Galleon International Master Fund, New Silk Route Pipe Segregated Portfolio and Passport India Investment Ltd.

TAKE Solutions was in the process of initiating its initial public offer of 2,100,000 equity shares of Rs ten each for cash at a price to be determined through the 100 per cent book-building process, a company release here said today.

The issue comprised a net issue to the public of up to two lakh equity shares (net issue) and the reservation of up to one lakh equity shares for subscription by eligible employees at the issue price. The net issue constituted 16.67 per cent of the fully diluted post issue paid-up equity capital of the company, the release added.

Galleon Management, a New York-based hedge fund advisor, registered with America's SEC as an investment advisor, managed billions of assets under management. It specilised in managing long and short term equity funds focusing on growth sectors of emerging markets.

Passport India Investment Limited was a fund promoted by the Passport Capital LLC, based in San Francisco, US.

UNI