Taksheel Solutions ends with 63% discount

At Rs 55.85 on BSE

Shares of Taksheel Solutions settled at Rs 55.85 on BSE, a discount of 62.77% over the initial public offer price of Rs 150.

The stock debuted at Rs 157.40, a premium of 4.93% to the initial public offer (IPO) price. The stock hit a high of Rs 185 and low of Rs 38.50. On BSE, 3.76 crore shares were traded on the counter.

Taksheel Solutions IPO Analysis

Taksheel Solutions was incorporated on 23 September 1999 as IBSS Techno-Park Private Limited in Hyderabad, Andhra Pradesh, under the Companies Act, 1956. The name was changed to Taksheel Solutions Private Limited on 29 November 2006. The company was converted into public limited company in December 2006. It is engaged in the business of providing information technology services to wealth management service providers.

In 2007, Taksheel acquired clients of Dataformix Technologies Inc., which enabled it to establish its foothold in the data warehousing & business intelligence business. In 2009, Taksheel acquired telecom software products from Verisoft Business Solutions Pvt. Ltd. Taksheel has acquired products in IP multimedia system (IMS), telecom signalling integrated standard digital network (ISDN), channel associated signalling (CAS), signalling system 7(SS7), short message service centre (SMSCs), least cost routing system (LCR), optimal routing solutions (ORS), voice mail servers (VMS) and other value added services (VAS) content delivery platforms.