Access has got the clearance from SEBI for a Rs 50 crore
initial public offer (IPO) which will hit the market
by the end of March.
IPO will be made be made entirely through the book-building
route and will comprise fresh issue of 50 million equity
shares of face value of Rs 10 each. Nearly 25 per cent
of the fully-diluted post issue paid-up capital will
be offered in the IPO.
this, the company will be listed on the Bombay Stock
Exchange and the National Stock Exchange.
Corporate Finance and Enam Financial Consultants are
the book running lead managers to the issue.
proceeds from the IPO will be used for expanding and
upgrading the company''s international long distance
telephony network, for meeting the needs of long-term
working capital and for repaying borrowings, said the
company has been in operations in international long
distance telephony for 15 months now and claims it is
the second largest ILD operator in the country, with
over 30 per cent of the market.