HR Srinivisan, Vice Chairman, Take Solutions has said that they are looking at acquisitions to double their size. They will be scouting the US and European markets for acquisitions. He says, their client concentration is unlikely to change.
They are in talks with investors to place 9 lakh shares. Out of the IPO proceeds, 60% will used for acquisition, 15% for product development and 15% for development of infrastructure.
The IPO size is between 75-82 crores, effectively giving Take Solutions a corpus of 45-49.2 crores for the desired acquisitions.
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