India's i-flex aims to raise $200 million in dual listing IPO

i-flex prepares for IPO in the US and India.
October 26, 2000
I-flex Solutions, one of India's top software companies, plans to raise as much as $200 million in an initial public offering IPO of its shares in the US and India as it seeks transform itself from an Indian company that exports overseas to a global company that happens to have factories in India.

The Mumbai-based company, which provides software for financial institutions, was founded nine years ago with the help of a $1 million investment from Citicorp. Today Citicorp owns 48% of the company. I-flex says it hasn't yet chosen a bank to underwrite the offering, saying it feels no obligation to favor Salomon Smith Barney, Citicorp's investment banking arm.

So far Indian software...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222