“The primary issue is for Rs 400 crore and out of this, we would be using Rs 115 crore for the future augmented working capital and Rs 133 crore with respect to retiring the existing debt. Apart from this Rs 400 crore primary issue, there is a OFS of about 8 million shares at a higher price band. This would be around Rs 240 crores and so the total issue size at the cap would be around Rs 640 crore.”
Chennai based Updater Services IPO: Opens on Sept 25 and closes on Srpt 27 bilkulonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bilkulonline.com Daily Mail and Mail on Sunday newspapers.