Sonata gets listed on NSE

By : |July 29, 1999 0

Sonata Software Limited on Wednesday got itself listed on
the National Stock Exchange (NSE). The company had gone public in December 1998 though an
Initial Public Offer at a premium of Rs 80 raising Rs 22.70 crore.

The scrips is already being traded on the Bombay Stock
Exchange and the Bangalore Stock Exchange. The scrip opened at Rs 404.90 on the NSE on
Thursday and closed lower at Rs 391.

According to a release, the funds mobilized by the IPO have
been primarily earmarked for expansion of its offshore development facility. Part of the
funds have also been utilised in the upgradation of its Basavangudi software development
center, for augmenting long term resources of the company and also partly meeting
preliminary and issue expenses.

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