Radiant Info Systems,
Bangalore-based information technology solutions
provider, has sought the approval of market
regulator, Securities and Exchange Board
of India for its 6.51 million share initial
public offer, IPO, reports CNBC-TV18.
The objects of the issue are to finance
the funds required for potential acquisitions
(Rs 40 crore) and to set up a Software Development
Center at Gowribidanur Industrial Area (Rs
46.94 crore), Bangalore. Money will also
use for additional working capital requirements
as a margin money (Rs 16.28 crore).
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