IPO of Edserv Softsystems Limited web-learning, which is an IT consulting and resource deployment company has been subscribed about 1.30 times as against 39, 73,908 shares offered. The Qualified Institutional portion was subscribed by 1.08 times while Non - Institutional investor's portion received a response of 3.10 times and the Retail portion was subscribed 1.0 times The IPO opened on February 05 and closed on February 09 was priced at a band of Rs55-60 at a face value of Rs10 per share through the book-building route.
Chennai-based company would be listed on the Stock Exchange, Mumbai (BSE) and The National Stock Exchange (NSE). It provides integrated learning and placement solutions, customized software solutions and placement consulting to clients in the field of IT and non-IT verticals.
The proceeds of the issue would be utilized mainly for establishing the HEAL Lab to develop, test, install, connect and implement the D2J (Degree to Job) content across all HEADS Offices. It will also finance the cost for establishing HEADS Offices across India. Another object of Edserv would be to finance the cost for developing and implementing the copyrighted centralized LAMPS Portal Engine. Edserv will establish 200 Partner-led EdCenters under BMC model across India and South Asia. The Issue is lead managed by Keynote Corporate Services Limited and Co-lead managed by Ashika Capital Limited. The Registrar to the issue is Karvy Computershare Private Limited. SOURCE: LIVEMINT.COM
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