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Tanla plans development centre at Hyderabad
HYDERABAD
: Tanla Solutions, a telecom solutions provider, is gearing up to create infrastructure for a development centre at its facility here, with an estimated outlay of Rs. 77.20 crore. The company also proposes to set up facilities required for a disaster recovery centre at Bangalore with an estimated investment of Rs. 12.70 crore while it is planning to establish overseas marketing offices, involving an investment of Rs. 4 crore. Tanla proposes to utilise the proceeds from its initial public offer (1.58 crore equity shares of Rs. 2 each), which will open on December 11 and close on December 14. It plans to utilise part of the proceeds from the offer, amounting to about Rs. 420 crore. The offer, being made through 100 per cent book building process, constitutes 28.59 per cent of the fully diluted post-issue capital of the company.
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