Public issue for SQL Star on June 18, 1999

By : |June 24, 1999 0

As a part of its expansion plans, SQL Star International, an IT company involved in
software development, education and IT consulting, is making a public offer on June 18,
1999, for its shares to be listed on the stock exchanges opening. The company is making a
public issue of 26 lakh equity shares of Rs 10 each for cash at a premium of Rs 45 per
share aggregating Rs 14.30 crore. The total cost of the expansion plans is estimated at Rs
25.75 crore. The balance amount will be generated through internal accruals and term
loans. ICICI Ventures and RCTC hold about 45% of the pre-issue capital.

The company is opening development centers in the US and Singapore and starting a
subsidiary in Europe. The company is also setting up offshore development facilities and
ERP consulting facilities in Hyderabad, Pune, Bangalore, Mumbai, Chennai and Singapore.

This company is promoted by six technocrats–Dr Ashok K Agarwal, Managing Director, SQL
Star; Brij K Tankha, Director (Finance); Dr Kishore B V Buddhiraju; Pradeep Gupta, MD,
Cyber Media India Limited; Satish Arora and Subhash Bhatia.

                                 

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