Nutek India Limited (Nutek), a Gurgaon based Telecom infrastructure service provider offering Infrastructure rollout solutions for both mobile and fixed telecommunication networks has received SEBI’s nod for entering the capital market with its IPO through the book building route.
The Public issue of 4,500,000 equity shares consisting of a fresh issue of 3,500,000 equity shares by the company and an offer for sale of 1,000,000 equity shares. The issue comprises of net issue to the public of 4,400,000 Equity shares and a reservation of up to 100,000 shares for the eligible employees on a competitive basis. The issue will constitute 26.07% of the fully diluted post issue paid-up capital of the company. The net issue will constitute 25.49% of the fully diluted post issue paid-up capital of the company.
The Objects of the Fresh Issue are to raise funds for capital expenditure, overseas acquisitions and augmenting long-term working capital requirement. The Book Running Lead Manager to the proposed issue is SPA Merchant Bankers Limited and India Infoline Ltd.
