Communication
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.