Ace Tours To Raise Funds For Expansion
Surat based Ace Tour Worldwide Limited is planning to raise IPO through issue of 8.1Mn shares by diluting 52.88% stake in the company.
The funds raised will be used to set up service apartment facilty at Surat; to upgrade the ardware and software facilities for webportal; for brand building exercise and for working capital requirement.
Corporate Strategic Allianze is the book running lead manager to the issue.
Promoted by Raju Choksi, Bharat Choksi, Jayesh Choksi and Mayank Choksi, Ace Tours provides travel services. It offers international and domestic tours, cruise, honeymoon trips, school tours, business/ conventional trips, and conference/trade fairs/exhibitions, as well as travel bookings, hotel bookings, visa processing facility, and foreign currency exchange services.
The company has branch offices in Mumbai, Ahmedabad and Rajkot.
In this space, SAIF Partners and MakeMyTrip India Pvt Ltd have bought 76.6% stake for $18.5 Mn for 76.6% stake in Gurgaon-based Le Travenues Technology Private Limited, which runs travel meta search engine, iXiGO.com. The deal values the company at $24.15 Mn
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|Ace Tours Worldwide Limited||
|F-22-23-24, Jolly Arcade, Ghod Dod Road.||http://www.ace1world.com|
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