i-flex announces IPO

BANGALORE: i-flex solutions limited has announced its plans for an Initial

Public Offering (IPO) and expansion into new market spaces. i-flex will list the

equity shares on the National Stock Exchange of India Limited and the Stock

Exchange, Mumbai after completion of the IPO.

The firm will use the capital from the IPO to consolidate its position in

established market segment and also establish a foothold in emerging markets

through marketing and promotional activities.

This apart, the capital will also be used for expanding its presence into new

global markets, for making joint venture investments, alliances-acquisition and

to provide complete solutions portfolio.

The shareholders of the company had earlier given their approval to i-flex’s

Board of Directors to raise equity up to 10 percent of the enhanced capital

through an IPO. i-flex has worked out a approach for existing shareholders to

unlock the value of their holdings by participating in the IPO.

The entire pre-IPO capital would be otherwise locked in for a period of one

year as per SEBI guidelines. i-flex is looking at completing the IPO process by

the end of the current fiscal year.

Equity share price will be discovered through book building process while the

issue will be managed by JM Morgan Stanley Pvt Ltd, Kotak Mahindra Capital

Company, Salomon Smith Barney India Pvt. Ltd., DSP Merrill Lynch Limited.