Larsen & Toubro Infotech (L&TI), the 100 per cent Larsen & Toubro-owned company, is expected to enter the capital market with its IPO in the first half of 2008. The company announced a Rs 600-crore expansion plan that includes the construction of six new software development and technology centres across the country. The company is also building an IT campus in Pune in the next 12-18 months to house 2,500 staffers and will focus on the banking, financial services and insurance, manufacturing and communications industry.
Gulshan Sugars & Chemicals files for FPO: Gulshan Sugars & Chemicals Ltd, has filed its draft prospectus with the Securities and Exchange Board of India (Sebi) to enter the capital market with a fixed price follow-on public offer (FPO) of 66 lakh shares at Rs 8 each. The proceeds from the FPO is expected to be used in the setting up a 20,000 tonnes per annum calcium carbonate facility and a 3MW captive power plant in Muzaffarnagar.
Abhishek Mills files for IPO: Kolhapur-based Abhishek Mills, has filed its draft red herring prospectus (DRHP), for its initial public offer (IPO) with SEBI.
The company intends to offer 41 lakh equity shares of Rs 10 each for cash at a price to be discovered through the book-building route.
The company plans to set up an integrated yarn dyed shirting fabric facility in addition to increasing their spinning capacity.