Circuit Systems to Raise $3.62M via IPO


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Printed circuit board (PCB) maker Circuit Systems (India) Ltd is making a debut in the capital market this month with a premium equity issue to raise $3.62 million to fund its expansion project. The Gandhinagar-based company from <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />India is proposing to issue 4.24 million equity shares. The money to be raised includes promoters' contribution of $1.06 million. This is the first public offer from the company.

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The expansion project involves setting up a new unit in the Special Economic Zone at Gandhinagar India. The total expansion plan is for $5.96 million. The public issue will be open for subscription on September 27, 2007 and will close on October 5, 2007.

Full copy of the prospectus is available on the SEBI website at www.sebi.gov.in, BSE website at www.bseindia.com, website of the Issuer at www.myscil.com, and the website of Lead Manager at www.Centrum.co.in.

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