OFS Tech Rs. 4.26 cr IPO to open on December 28

OFS, a provider of IT services such as software development and maintenance, caters to the food processing industry.

Dec 24, 2015 09:12 IST India Infoline News Service

IPO
After a successful year for IPOs on the main board, the BSE SME platform is set to see the last IPO of 2015 with the Bangalore-based OFS Technologies Rs. 4.26 crore IPO will open for subscription on December 28.

The public issue will close on December 31, 2015 with a bid size of minimum 6,000 shares and in multiples of 6,000 equity shares thereafter.

The issue price for the software company’s IPO is fixed at Rs. 25 per share. OFS Technologies plans to use the IPO proceeds for strategic acquisitions or joint venture.

OFS, a provider of IT services such as software development and maintenance, caters to the food processing industry.

The promoter and promoter group have 99.98% shareholding in the company. Post the issue the company’s paid-up equity capital will increase to Rs. 6.41 crore from current Rs. 4.71 crore.

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