MRO-TEK Ltd, the communications and networking major, has
entered the capital market with a public issue of 2,50,9000 equity shares with a
face value of Rs 5 each.
The company is going in for a major expansion program
involving an outlay of Rs 36.91 crore.
MRO-TEK manufactures various networking solutions for WAN and
LAN and has been recognized as an ISO 9002 company. The company's products
include ASM series, HDSL products, wireless products, 56K modem, ISDN products,
virtual network, protocol analyzer, and so on.
"The present plan involves expansion of manufacturing
facilities in Bangalore, creation of additional marketing facilities, and
setting up of new corporate office in Bangalore," says H Nandi, MD, MRO-TEK.
"The bid also aims at augmenting long-term working capital resources,
contingencies and issue expenses," he adds.
The company has around 37 channel partners in India. It has
nine alliance partnerships ranging from technical partnerships, joint venture
manufacturing, value addition, and after-sales support.