MRO-TEK to expand, go public

BANGALORE: MRO-TEK Ltd. has embarked on a major expansion program involving

an outlay of Rs 36.91 crore. Under the program, MRO-TEK plans to expand its

manufacturing facilities at the Electronics City in Bangalore, create additional

marketing facilities and set up a new corporate office at Bangalore. The

Banaglore facility will be dedicated to the manufacturing of HDSL products.

The major market segments serviced by MRO-TEK products include ISPs, banks/corporates,

government/PSUs, telecom and defense. MRO-TEK proposes to enter the capital

market with a public issue of 51,09,000 equity shares which includes an offer to

sell by Nandi investments Limited (24,00,000 equity shares) and by Development

Investment Trustee Company Ltd. (2,00,000 equity shares). The offer consists of

a book building portion of 38,31,750 equity shares and Fixed Price Portion of

12,77,250 Equity shares.

The company’s product offerings include ASM series, HDSL products, wireless

products, 56K modem, ISDN products, Virtual Private Network, NASRAQ, Cube 2,

Protocol Analyzer, Onsite POP, Layer-3 switches and server directors. Talking

about the company’s plans, MRO-TEK managing director H Nandi said,

"Recognizing the market potential for these products, the company set up

manufacturing facilities at the Electronics City, Bangalore, which will further

enhance our position in this market."