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Sunday, July 15, 2007

Zylog Systems sets IPO price band at Rs 330-350/sh

The public issue of Zylog Systems will hit the primary markets on July 20. The company has fixed the price band of its initial public offering at Rs 330-350, said an official from Motilal Oswal, book running lead manager to the issue.

Zylog Systems will be issuing 36 lakh equity shares of face value Rs 10 each through 100% book building process.

At the lower price band, the company will mop up Rs 118 crore and at the cap price it will raise Rs 126 crore.

Zylog plans to utilise the proceeds for developing and expanding its business to set up two state-of-the-art offshore development centres, fund acquisition and strategic investments and to meet the increasing working.

Zylog Systems is a global services provider delivering technology-driven business solutions. It is a 100% export oriented unit, registered with the Software Technology Parks of India and provides technology services to client specific requirements, reports The Economic Times.

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