Birla Shloka Edutech, an education company offering IT and IT-enabled solutions, has announced price band for its further public offer (FPO) between Rs 45 and Rs 50 per share.
The issue for raising Rs 34.78 crore will open on January 11, 2010 and close on January 13, 2010.
The proceeds from the FPO will be used for capital expenditure for turnkey projects executed by the company under the BOOT model to the tune of Rs 15 crore, capital expenditure of Rs 9.50 crore on upgradation of infrastructure and content development for XL@school; balance for funding the proposed merger and acquisition activities and meeting the working capital requirements.
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