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Thursday, March 15, 2007

Circuit Systems plans public offer

The Gandhinagar-based Circuit Systems (India), manufacturer of printed circuit boards (PCBs) for industrial electronic equipment, is increasing its production capacity and coming out with an IPO next month, its managing director, Paresh Vasani, said.

He told reporters that the company's existing installed capacity of 1 lakh sq metres of circuit-making would be increased to 1.7 lakh sq metres at a new premises in the Special Economic Zone for electronics at Gandhinagar. The new facility will begin production at the end of 2007-08. The company will invest Rs 20.71 crore, of which Rs 14.85 crore would be raised through initial public offering. A Belgium customer is investing Rs 1.92 crore while the company would contribute Rs 3.93 crore through internal cash accruals.

The company has already applied to SEBI and its IPO is likely to come out next month, reports The Hindu Business Line.

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