Aishwarya Telecom’s initial public offering of about 4 million shares has been oversubscribed 20 times.

Aishwarya Telecom’s initial public offering of about 4 million shares has been oversubscribed 20 times. The price band for the issue was fixed at Rs 32-Rs 35 per share. The company plans to use the proceeds to expand its manufacturing capacity and infrastructure, fund research projects and for general corporate purposes.