Cityon Systems Files For IPO
Cityon Systems (India) Limited has filed for an IPO on BSE SME platform to raise R12.4 Cr. The company is offering 62 Mn equity shares at R20 each. The issue constitutes 25.25% of the post issue paid up equity share capital of the company.
Mefcom Capital Markets Limited is appointed as the lead manager to the offer.
The promoters holds 35.89 % of the pre-issue and 26.35% post issue paid-up capital.
The company plans to use the funds for brand building and to set up offices in Delhi and Kanpu.
Promoted by Ankur Garwal and Mukash Kumar, Cityon Systems carries out the business of import, export, purchase, assemble, stockist, distributors, agents, dealers, traders, designers and jobbers in all type of computers, computers software, computer hardware, data entries etc. It also deals in all types of Electric Goods, Iron & Steel, Shares, and Chemicals etc. and to cover wide range of all such activities.
The electronic industry in India has emerged as an important manufacturing sector in recent years and has contributed positively to the growth trajectory of the Indian economy. During the period 2011-12, exports of Electronic Goods as a group was estimated at US $ 5024.92Mn compared with US $ 4299.36Mn during the corresponding period of last year, registering a growth of 16.88%.
The key segments of the Indian electronics sector include consumer electronics and telecom equipment which are the largest and cumulatively represent nearly 27 % of total production. IT hardware is the fastest growing segment; with a CAGR of 21 %. Chemical industry is an integral component of the Indian economy, with the current size of $108 Bn, it contributes around 7 % of the Indian GDP.
Recently, SRG Seecurities, Tiger Logistics, VKJ Infra, Subh Tex also had filed DHRp on SME Platform of BSE.
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|2013-08-08||Cityon Systems - IPO||IPO / Offerings||2.02|
|Cityon Systems (India) Limited||
|215, Delhi Chambers, Delhi Gate||www.cityonsystems.in|
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