Take Solutions takes to capital market with IPO

Chennai, July 30: Take Solutions Ltd, an international business technology company with focus on life sciences and supply chain management solutions, will enter the capital market with an IPO of upto 2,100,000 equity shares of Rs 10 each for cash at price to be decided through the cent per cent book building process.

Company's Vice-Chairman H R Srinivasan and Managing Director S Sridharan told the media here today the issue will open for subscription on August one and close on August seven.

The object of the issue was to raise fresh capital that could be deployed in the acquisition of companies, business and products as well as to repay debt utilised in the acquisition of Clear Orbit Inc, USA.

They also intended to enhance product development and domestic infrastructure facilities. They had an 'unique business model' comprising a flexible technology platform catering to a wide range of industries.

Their expertise has led to the development of a flexible product suite in supply chain management and life sciences ,and provide them unique capabilities.

They also claimed they gathered momentum and aimed to gain a leadership position in the US and Asia Pacific markets as well as pursue their inorganic growth strategy with domain centric acquisitions and entry into new markets.

To a question, they said as on March 31 this year, together with its subsidiaries, it completed more than 2,500 software installations for over 250 customers ranging in size from multinational enterprises to medium-and smaller-sized companies.

UNI