Zylog Systems will debut on the exchanges on Friday, 17 August 2007. It will be placed in the B1 group on the BSE.
The company had fixed the issue price at the top end of the Rs 330 - 350 price band.
At the issue price of Rs 350, the PE mutiples works out to 10.5, based on the year ended March 2007 EPS of Rs 33.2.
Zylog Systems IPO ended on 25 July 2007 with 76.51 times subscription. The qualified institutional bidders (QIBs) category was subscribed 89.52 times, the non-institutional investors category was subscribed 143.71 times and the retail investors category was subscribed 35.04 times. The employees category was subscribed 1.1 times.
Zylog Systems is a global IT solutions and services provider delivering technology- driven business solutions. The company intends to utilize the net proceeds of the issue to set up two state of the art offshore development centres (ODCs), to fund acquisitions and strategic investments and to meet the increasing working capital requirement.
The company reported net profit of Rs 54.70 crore on sales of Rs 407.48 crore in the year ended March 2007.
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