Aishwarya Telecom, a manufacturer of telecom fibre optic products, launched its initial public offering (IPO) comprising 4 million shares in a price band of Rs 32-35 per share. The issue was open for subscription between April 15 and April 17, 2008. It was oversubscribed by about 20 times. The company plans to use the proceeds for the IPO to expand its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
