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Cerebra goes public; partners with Anytech Inc

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CIOL Bureau
New Update

BANGALORE: Bangalore-based Cerebra Integrated Technologies Ltd. has entered the capital market with an Initial Public Offer (IPO) of 14,79,300 equity shares of Rs 10 each for cash at a premium of Rs 50 per share aggregating to Rs 887.58 lakhs. Cerebra has the participation of mutual funds, venture capital funds and financial institutions to the tune of almost 14 percent



of the post issue equity capital of the company. They are Sun F&C Mutual Funds, Birla Mutual Funds, GIC growth Fund, Reliance Mutual Fund, Empire International Holdings Ltd.-Mauritius, Karnataka Information Technology Venture Capital Fund and Karnataka State Industrial Investment Development Corporation.

The company, engaged in the manufacture of PCs, servers, networking, trading of peripherals and software development, has tied up with the US based AnyTech Inc to execute e-commerce projects for the global market. Focusing on the B2B aspect, AnyTech will front-end the marketing deals for Cerebra in the US. Under the agreement, Cerebra would provide AnyTech with all technical skills and infrastructure to execute offshore projects at Cerebra's development center in Bangalore besides offering the technical personnel necessary for the execution of on-site projects in the US. Cerebra would also jointly work with AnyTech to establish a sales, marketing and services infrastructure in the US.

The tie-up is already operational with Cerebra bagging an order of $500,000 from AnyTech. Also Cerebra has inducted Mythili Kannan, Chief of AnyTech Inc, into the Board of Cerebra as Director-USA Operations and also by equity participation from Mythili Kannan and her acquaintances. In its expansion plans, Cerebra plans to expand the current manufacturing



facility in Bangalore, set up a full fledged branch office in the US and a software development center in Bangalore. For the year ending March 31, 2000, the company is projecting a total revenue of Rs 29.50 crore and profit after tax of Rs 1.49 crore. The equity shares are proposed to be listed on stock exchanges at Bangalore, Ahmedabad and Calcutta.

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