Rolta raises $90 m

Rolta India Limited has raised $90 million through the issue of 16,071,429 global depository receipts. It provides for a green shoe option of $13.50 million through the issue of 2,410,714 additional GDRs to be exercised within 30 days by the joint lead managers, the company informed the stock exchanges. With the exercise of this option the total number of GDRs issued would be 18,482,143 and the proceeds shall aggregate to $103.50 million.

Sasken move

Sasken Communication Technologies Ltd has acquired Chennai-based Integrated SoftTech Solutions (iSoftTech). The deal places the enterprise value of iSoftTech at $1.45 million. Sasken has facilities in Bangalore and Pune. iSoftTech would continue to operate as a Sasken subsidiary in Chennai and its president and COO Vijay Babu would remain the head of the Chennai centre.

Plethico IPO

Plethico Pharmaceuticals will open its 100 per cent book-built initial public offer on April 10 for subscription. The offer will close on April 17. The company expects to raise Rs 110 crore through the IPO.

Tata Sponge

Tata Sponge Iron has commissioned its third kiln of 1,50,000 tpa capacity. Production at the kiln, completed in 16 months, has started from March 31.

BOC launch

BOC India, which deals in the field of industrial and medical gases, has launched its ASU (Air Separation Unit) plant in Hyderabad.

Trinity centre

Trinity Convergence Inc has opened a development centre in Pune. The company designs, develops and licenses embedded voice-over-IP software solutions.

Wanbury unit

Wanbury has commissioned a new unit at its recently acquired facility at Tanaku, Andhra Pradesh. The commissioning marks the completion of the first phase of the planned capacity expansion programme.