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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9337)	11/4/1999 5:13:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Logix Micro IPO oversubscribed 88X logixindia.com Our Bureau (Bl) NEW DELHI, Nov. 4 THE Bangalore-based Logix Microsystems Ltd's initial public offer (IPO) has been oversubscribed 88 times, the company said in a statement. The IPO of 13 lakh equity shares of Rs. 10 each at a premium of Rs. 10 aggregating Rs. 2.60 crores had opened on October 25 and closed on October 28. Logix, engaged in collaborative Internet-based training, had also placed 17 lakh equity shares at the same value with FIIs, OCBs and associates. The money raised through the IPO and the private placement would be used for the company's Rs. 6-crore expansion plan, the statement said. The expansion plan envisages setting up overseas offices in the US and West Asia, increasing the capacity of the existing offshore software development centre and prepayment of long-term loans.