On 31 December 2007
eClerx Services will list on exchanges on Monday, 31 December 2007. The stock will be placed in the B1 group on BSE.
The company had fixed the IPO price at the top end of the Rs 270-315 price band. At the IPO price of Rs 315, the PE multiple works out to 14.65, based on the year ended March 2007 EPS of Rs 21.50.
eClerx Services IPO had ended on 7 December 2007 with 26.30 times subscription. The issue received bids for 9.83 crore shares as against 37.40 shares on offer.
The qualified institutional buyers' (QIBs) category was subscribed 31.59 times. The non institutional investors' category, made up of corporates and high net-worth individuals, was subscribed 36.36 times. The retail investors' category was subscribed 12.37 times.
eClerx Services IPO had managed to get a CRISIL IPO Grading of 3 out of a scale of 5. This rating of 3 indicates that the fundamentals of eClerx Services are inline (average) with that of other listed companies in India.
eClerx Services proposes to utilise the net proceeds to fund acquisitions, infrastructure investments and for setting up additional facilities.
eClerx Services’ portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services. It provides service solutions using a mix of custom designed data processes with the assistance of delivery teams comprising generalists and domain specialists, and in-house software to automate processes.
eClerx Services reported a profit after tax of Rs 40.52 crore on sales of Rs 86.12 crore in the year ended March 2007.