Nutek India gets SEBI nod for IPO

Mumbai, May 23: Gurgaon-based Telecom infrastructure service provider Nutek India, has received SEBI approval to enter the capital market with its IPO (Initial Public Offer) through the book building route. The IPO will meet the Company's capital expenditure, overseas acquisitions and augmentation of long-term working capital requirements, a release said.

The Company will issue 4,500,000 equity shares out of which 3,500,000 will be fresh equity shares along with an offer for sale of 1,000,000 equity shares. The issue will constitute 26.07 per cent of the fully diluted post issue paid-up capital of the Company. The net issue will constitute 25.49 per cent of the fully diluted post issue paid-up capital of the Company. SPA Merchant Bankers Limited and India Infoline are the proposed Book Running Lead Managers to the proposed issue, the release added.

UNI