XL Telecom launches IPO
December 15, 2006
Hyderabad-based XL Telecom, a telecom manufacturer interested in mobile handset assembling, has launched its IPO of 3.96 million shares or 25 per cent stake. The shares, valued at Rs 10 each, are being offered at Rs 125-150 per share. While 50 per cent of the shares divested would be for qualified institutional bidders, 35 per cent would be for retail buyers and 15 per cent for high net worth individuals.
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