GSS America to list on NSE in March '08; price band at Rs 400

Hyderabad, Feb 21 (UNI) IT Solutions Company GSS America, which raised Rs 140 crore from public this month, will list the IPO on the National Stock Exchange in the first week of March, Company MD and CEO Bhargav Marepally said today.

The allotment from the IPO on February 11, will be in the lower price band of Rs 400 per equity share, Mr Marepally said on the occasion of announcing the ''Udyog Rattan Award'' conferred on him by the Institute of Economic Studies(IES), New Delhi.

The amount will be used to establish a 1000-seater campus at Hyderabad with Rs 66 crore and expansion of its overseas centres at Dubai, Singapore and Europe with Rs 10 crore. It will allot Rs 25 crore towards working capital as the company will still have Rs 39 crore in cash, he added.

GSS America has achieved tremendous growth in the last three years with revenues, for the three quarters ending December 31, 2007, crossing Rs 204 crore. GSS America has also acquired two companies in the last one and a half years and successfully integrated them.

IES had conferred the award on Mr Marepally ''recognising his outstanding performance as the Best Manager for putting GSS America on the express elevator to growth''. GSS America was also given the ''Excellence Award'' for ''excellence in productivity, quality, innovation and Management'' by IES.

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