Nu Tek gets SEBI nod for IPO, eyes overseas buys
Gurgaon-based telecom infrastructure service provider, Nu Tek India
By ET Online |
MUMBAI: Gurgaon-based telecom infrastructure service provider, Nu Tek India
has got Securities and Exchange Board of India's approval for its initial public offer of 4.5 million shares of face value Rs 10 each.
The company plans to use the issue proceeds for capital expenditure, overseas acquisitions and augmenting long-term working capital requirement.
Nu Tek plans to acquire small and mid-sized companies in the overseas markets to enhance its presence, besides investing in developing its technological and industry expertise and delivery infrastructure in India.
The company has already identified a few in the US. It has earmarked Rs 21 crore for such buys.
The company also plans to expand in Turkey and Libya and is in the process of setting up a subsidiary in Turkey.
Last year, Nu Tek set up 400 telecom sites for its clients and plans 600-700 such sites across the country by the year end.
The company's major clients are Nokia, Ericsson, Motorola, Tata Teleservices, Reliance Communication.
has got Securities and Exchange Board of India's approval for its initial public offer of 4.5 million shares of face value Rs 10 each.
The company plans to use the issue proceeds for capital expenditure, overseas acquisitions and augmenting long-term working capital requirement.
Nu Tek plans to acquire small and mid-sized companies in the overseas markets to enhance its presence, besides investing in developing its technological and industry expertise and delivery infrastructure in India.
The company has already identified a few in the US. It has earmarked Rs 21 crore for such buys.
The company also plans to expand in Turkey and Libya and is in the process of setting up a subsidiary in Turkey.
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Last year, Nu Tek set up 400 telecom sites for its clients and plans 600-700 such sites across the country by the year end.
The company's major clients are Nokia, Ericsson, Motorola, Tata Teleservices, Reliance Communication.
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