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Hughes Software Systems announces IPO plans

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CIOL Bureau
New Update

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software company, Hughes Software Systems has announced plans for its

initial public offering (IPO). The offering will include a public issue of

875,000 new shares and sale by existing holders of 3,500,000 equity shares

(jointly referred to as the Offer). The Offer includes a book building

portion of 3,937,500 equity shares and a fixed price portion of 437,500

equity shares.

The lead manager to the Offer is Kotak

Mahindra Capital Company. HSS top brass carried out roadshows for

institutional investors in Europe and India prior to book opening on

September 22. Books close on September 28.

The shareholders, in HSS, who are putting

up their stake for sale include HNS-India Inc (USA), Indus East Holding

Limited (Mauritius), Digital Networks (India) Pvt Ltd and Sutter Hill

Investments Mauritius Limited.

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