Sasken IPO in Rs 230-260 band

Telecom R&D outsourcing company Sasken Communication Technologies has fixed a price band between Rs 230-260 per share for its proposed initial public offering (IPO) to raise up to Rs 130 crore.

Sasken is planning to issue of 50 lakh equity shares of Rs 10 each. The company has reserved five lakh shares for allotment to employees, and the balance 45 lakh shares would be allotted to the public.

From the public portion, at least 60% has been reserved for allotment to qualified institutional buyers on a discretionary basis, 10% for non-institutional investors and the balance 30% for retail investors, the company said.

Enam Financial Consultants is the sole book running lead manager to the issue.