In an interesting development Sasken that went for IPO (Initial Public Offering) was over-subscribed 78 times! Even on Day 1 it was over-subscribed 12 times. It is excellent news for “tech” companies in India.
Rajiv Modi founded Sasken took the difficult route of “tech services”, “IP” and “products” unlike the services companies in India. It had its share of “bad luck” too in the difficult days of Telecom (2001-2003). It had to abort three times its plans to go for IPO. But it always had amazing people (many star faculty members who were earlier with IIT Bombay). It is heartening that it could raise about $ 25 Million thru IPO.
It is nice to see EETimes reporting this news!
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