Suyog Telematics is set to hit the capital markets, through BSE SME, with an initial public offering IPO of 18.12 lakh equity shares of Rs 10 each. The issue opens for subscription on December 30, 2013 at a fixed price band of Rs 25 per share, while the public issue will close for subscription on January 7, 2014.
The issue proceeds are proposed to be used for installation of 10 new roof top poles, installation of 100 new ground based poles, and upgradation and replacement of existing tower and poles.
The book running lead manager of the issue is Aryaman Financial Services, while Sharepro Services (India) is registrar to the issue.
Suyog Telematics' business is to build, own and operate telecommunication poles, towers (particularly roof-top towers), OFC systems and related assets and to provide these passive infrastructure assets on a shared basis to wireless and other communications service providers.
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