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Zylog Systems IPO opens on 20 July 2007

Thursday, July 19, 2007

Zylog Systems will enter the capital markets with a public issue of 36 lakh equity shares of Rs 10 each.

The issue will open on 20 July 2007 and close on 25 July 2007 and the price band has been fixed between Rs 330 - 350 a share. The issue is being made through the 100% book building process.

The issue would constitute 21.89% of the fully diluted post issue paid up equity capital of the company.

Zylog Systems is a global IT solutions and services provider delivering technology- driven business solutions. The company intends to utilize the net proceeds of the issue to set up two state of the art offshore development centres (ODCs), to fund acquisitions and strategic investments and to meet the increasing working capital requirement.

At the price band of Rs 330 - Rs 350, the PE mutiples works out to 9.9 - 10.5 times its FY 2007 EPS of Rs 33.2. (on post-issue equity)

The company reported net profit of Rs 54.70 crore on sales of Rs 407.48 crore in the year ended March 2007.

Posted by FR at 11:26 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.