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Mid-sized IT services company Rolta India has completed
its Global Depository Receipts (GDR) issue from which
it has raised a total of $103.5 million or around Rs460
crore, including $13.5 million from retention of over-subscription.
The
receipts were priced at $5.6 or Rs250 each, equivalent
to the 4-week average price of the company''s stock price
in the domestic markets. The receipts would be listed
on the London Stock Exchange.
The
issue was completed at a discount of more than 8 per cent
to the closing price of Rs273.9 on the NSE on 07 April
2006.
Rolta
India has operations across the globe with subsidiary
operations in 7 countries. The company focuses on geographical
information systems (GIS) and automation of plant and
other mechanical designing services.
The
company is a service partner of US-based Computer Associates
(CA) and offers implementation, customisation and integration
services for CA software, including data security, network
management and systems management.
Rolta
had reported a net profit of Rs35.28 crore or Rs5.5 per
equity share for the December 2005 quarter as compared
to Rs26.21 crore or Rs4.1 per share for the previous year
quarter. Total revenues increased from Rs86.36 crore to
Rs110.84 crore.
For
the previous quarter ended September 2005, Rolta had reported
a net profit of Rs31.68 crore or Rs5 per share on total
revenues of Rs91.08 crore.
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