Date:02/09/2006 URL: http://www.thehindubusinessline.com/2006/09/02/stories/2006090202540400.htm

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MR BHASKAR PANIGRAHI (LEFT), CEO, CAMBRIDGE TECHNOLOGY ENTERPRISES LTD, AND MR Y RAMESH REDDY, CFO, AT A PRESS CONFERENCE IN MUMBAI ON FRIDAY. - Paul Noronha

Mumbai, Sept. 1

Cambridge Technology Enterprises Ltd is to build an SOA (service-oriented architecture) competency centre in India. The company plans to come out with an IPO of Rs 24 crore to fund its project costing Rs 30.7 crore.

The Rs 10 per share will be offered at a proposed price band of Rs 63- 75. The offering is expected by the end of this year; said Mr Bhaskar Panigrahi, CEO of the company. He added that the company has a four-pronged expansion plan including strategic acquisitions, enhanced global collaboration, building a reusable services library and building and a SOA competency centre.