Data Access IPO to be priced at Rs 17-20

International long distance telephony operator Data Access announced that the price band for its proposed initial public offering would be in the range of Rs 17-20 per share.

The IPO is expected to raise around Rs 80-100 crore by offloading 25 per cent to the public. Around Rs 40 crore of the amount raised will be used for debt repayment and another Rs 30 crore for expanding its network.

Kickstarting the roadshow, Data Access Managing Director Sidharth Ray said, "The company has opted for the 100 per cent book-built method. The issue opens on March 29 and close on April 6." The stocks will be listed on the Bombay Stock Exchange and the National Stock Exchange.