Indian industrial conglomerate BS Transcomm is looking to raise about Rs 2bn (US$44m) via an IPO, according to Reuters citing the company’s managing director.
BS’ main focuses are the telecom, power, and alternate energy sectors, with clients including…
Indian industrial conglomerate BS Transcomm is looking to raise about Rs 2bn (US$44m) via an IPO, according to Reuters citing the company’s managing director.
BS’ main focuses are the telecom, power, and alternate energy sectors, with clients including telcos Vodafone Essar, Aircel and Reliance.
Rajesh Agrawal, the company’s MD, was quoted as saying that half of the proceeds of the IPO would be used to fund capacity expansion and the other half for working capital expenses.
JM Financial will reportedly act as lead manager for the IPO expected to take place in October, following several attempts to list the company in the past, Agrawal said.
In recent months, a number of Indian companies have announced they were planning IPOs, including SSTL and Planet41, in a sign that the window may be reopening.
BS Transcomm and JM Financial could not be reached for comment.
