Aishwarya Telecom's IPO open on tuesday

Aishwarya Telecom's IPO will open for subscription on Tuesday. The issue, priced within a band of Rs 32 to Rs 35, will offer 40,00,000 equity shares of Rs 10 each through the 100 per cent book building process. The issue closes on Thursday.
Aishwarya Telecom is in the business of manufacturing test and measurement equipments like mobile tester, fibre optic tester, data tester, cable fault locator. The company currently manufactures products for telephone service providers, defense sector, railways, telecom equipment manufacturing companies and cable TV operators.
The company has its manufacturing facilities at Yanam, Pondicherry and Dehradun in Uttaranchal. It also has a research and development facility at Hyderabad.
Aishwarya Telecom posted net sales of Rs 22.08 crore with a net profit at Rs 3.14 crore. For FY2006-07, the company has reported net sales at Rs 21.74 crore with a PAT of Rs 3.03 crore.

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