Thursday, November 24 2005 17:21 Hrs (IST) - World Time -

Bangalore: Compulink Systems Ltd, an IP-led software products and services provider, will hit the capital market with an IPO of 45.38 lakh equity shares on November 25. The offer consists of a fresh equity issue of 35.38 lakh shares of Rs 10 each at a price of Rs 60 for cash aggregating to Rs 21.23 crore and an offer for sale of 10 lakh equity shares of Rs 10 each at a price of Rs 60 for cash aggregating Rs 6 crore.

"The offer aggregates to Rs 27.23 crore. The shares have a face value of Rs 10 each and are being issued at a premium of Rs 50 share," Vishwas Mahajan, MD and CEO, said.

The equity shares will be listed on the NSE and the BSE. Karvy Investor Services Ltd is the lead manager.

"Compulink was implementing an investment plan of Rs 26.48 crore and IPO was aimed at raising financial resources for product development, term loan repayment, additional working capital and IPO expenses," Mahajan said.

"The means of financing is fully through the equity route," he said.