Nu Tek to list on bourses on August 27

Nu Tek to list on bourses on August 27Gurgaon-based Nu Tek India Limited has informed that it will list on the bourses with its equity shares on August 27, 2008 (Wednesday). The issue, which opened on July 29 and closed on August 1, was subscribed 1.63 times The price band was between Rs 170 and Rs 192 per equity share. The issue has been assigned an IPO grade of 3/5 rating agency, CRISIL. Nutek offers services to telecommunication equipment manufacturers, telecom operators, and third party infrastructure leasing companies for installing and maintaining telecom network equipment and infrastructure. Nokia, Ericsson, Motorola, Tata Teleservices, Reliance Communication and Bharti Airtel are some of the major clients of Nutek India Ltd. The company plans to deploy the proceeds towards capital expenditure, overseas acquisitions and augmenting working capital the long term working capital requirement amongst others. The shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the issue were SPA Merchant Bankers Limited and India Infoline Limited.

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