 "IPO")
Chennai-based OFS Technologies (OFST) is coming out with a maiden initial public offer (IPO) to raise Rs 4.26 crore. "We are making a public issue of 17,04,000 equity shares of Rs 10 each at a fixed price of Rs 25 per share to mobilise Rs 4.26 crore. Post allotment, shares will be listed on BSE SME platform," the company release said here.
The issue will remain open for subscription from December 28 to December 31.
The object of the issue is to fund strategic acquisition/joint venture aggregating Rs 3.75 crore, the release stated.
The company's present paid up equity capital of Rs 4.71 crore will stand enhanced post IPO to Rs 6.41 crore.
OFS Technologies is a technology service provider and takes care of the entire cycle of software product development, maintenance, quality assurance testing and support at a reasonable cost to its clients, as per the release.
The issue is lead managed by V B Desai Financial Services Ltd and Bigshare Services Pvt Ltd is the registrar to the issue.
