Taksheel Solutions files IPO papers with SEBI
Hyderabad based Taksheel Solutions (TSL) has filed draft red
herring prospectus with the market regulator SEBI for 55 lakh equity shares
IPO.
TSL is an IT solution company focused on providing products
and services for the companies engaged in financial services industry &
telecom.
Lexicon Private Limited holds 56.54% stake in company, which
will be 42.31% post issue. Promoters Pavan Kumar Kuchana and Ramaswamy Kuchana
also hold some stake in company. Total promotoer holds will be reduced from
63.31% to 47.37% post issue.
Currently Verisoft Business Solutions Pvt. Ltd too holds
13.84% stake and Sparrow Hill Advisory Private Limited 13.76% stake in company.
Company proposes to use issue proceeds for setting up a new
software development center at Hyderabad; for setting up a new software
development center at Warangal; acquisitions and other strategic initiatives;
and financing the incremental working capital requirements.
Revenues increased from Rs 3543.03 lakh in FY09 to Rs
4950.15 lakh in FY10, especially due to better business operation and strategic
acquisitions in recent past. Its 5-year
CAGR in profit stood at 63.50% till FY10.
PNB Investment Services is the book running lead manager to
issue.
