eClerx Services to raise Rs 101 cr via IPO

New Delhi, Nov 30 (UNI) KPO company eClerx Services will raise Rs 101 crore from its initial public offering (IPO) of Rs 10 each share at price band Rs 270- 315.

The issue, through a hundred per cent book building process, opens on December 4 and will close on December 7, 2007.

''The proceeds of the issue will be used to fund acquisitions, infrastructure investments and for setting up additional facilities,'' Anjan Malik of eClerx told reporters here.

Book running lead managers to the issue are JM Financial Consultants and Edelweiss Capital.

The shares will be listed on the National Stock Exchange and Bombay Stock Exchange.

eClerx Services' portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.

It provides service solutions using a mix of custom designed data processes with the assistance of delivery teams comprising generalists and domain specialists, and in-house software to automate processes.

The company's unconsolidated revenues grew to Rs 86.23 crore in fiscal 2007 from Rs 47.75 crore in previous fiscal.

UNI