Spice Communications IPO or Spice Telecom IPO opens on June 25th 2007

Issue size is 520 crore Issue Dates: Opens on June 25th 2007 closes on June 27 2007Issue Price : Rs 41 - 46 a shareIssue Details : It will issue 11.31 crore equity shares of Rs 10 each and the issue will comprise 16.39% Spice Communications’ fully diluted post-issue share capital. Pre IPO Placement : It raised around Rs 112 crore through a pre-IPO placement of 2.48 crore shares at Rs 45 each. Stake Holders : Malaysia’s official service provider Telekom Malaysia (TM) holds 49%,while industrialist and Modi group Chairman B K Modi owns the remaining 51% stake in Spice Communications. Purpose of the Issue : 50% of the total proceeds to retire part of its Rs 1,000 crore debt,Remaining for foraying into national long distance (NLD) and international long distance (ILD) services in the country.Financials:Spice Communications' net loss of Rs 68.58 crore in the full year ended June 2006 from Rs 6.97 crore in FY 2005.Sales advanced 9.1% to Rs 661.49 crore in FY 2006 (Rs 606.57 crore). Listing : Listed only in BSEINDIA , not sure if everyone knw abt this if its a negative turnover company you cant list it in Nseindia.