MUMBAI, June 29, 2015 /PRNewswire/ --
MRSS INDIA, a leading independent Market Research Agency in India, announced a total initial public offering of Rs. 1,42,80,000 at the issue price of Rs. 12.75 each, the face value of the equity shares is Rs. 10 each and minimum application size is Rs. 1,27,500. The issue opens on Tuesday, June 30, 2015 and closes on Thursday, July 2, 2015. Pantomath Capital Advisors (P) Ltd ('Pantomath'), a SEBI registered Category I Merchant Banker, is the sole Lead Manager to the Issue.
This will make MRSS INDIA the only market research company to be listed on the BSE (Bombay Stock Exchange). MRSS INDIA relies exhaustively on the usage of technology for data acquisition offering reliability, validity and faster turnaround times to its clients. The key promoters of the company, Mr. Sarang Panchal, Managing Director and Mr. Raj Sharma, Chairman, have deep rooted experience in the said field.
"The Indian market research industry is taking the path that the software industry took, as today Indian researchers dominate the global MR space. This is the opportune time for us to enter the capital markets and MRSS INDIA is hoping to pioneer what the Indian software giants did in the 90's," stated Raj Sharma.
Sarang Panchal added, "The listing will give all the stakeholders an opportunity to co-own a market research company that will provide greater transparency, better collaboration avenues and access to richer talent."
The proceeds raised through the IPO are to be utilized for procurement of new technology, working capital requirements and issue expenses.
About MRSS INDIA
MRSS INDIA has a wide range of offerings such as Eye Tracking, Mobile Analytics, Video Analysis, Facial Recognition, Digital Tracking, Online Communities, Neuroscience, Emotional Analysis, Automated Audience Measurement, Sensory Sciences, etc. MRSS INDIA is a member of MRSI and DIN (Digital Insight Network - Global). The Company is the subsidiary of Majestic Market Research Support Services Limited, - One of Asia's largest full service market research firm. MMRSS is a member of ESOMAR, QRCA, MRA, etc with presence in 18 countries across Middle East and Asia Pacific region.
Pantomath Advisory Services Group is headed by Mr. Mahavir Lunawat (who is a fellow member of The Institute of Company Secretaries of India, CFA, PGDSL and a law graduate and who has had stints with top notch corporates viz. ITC Ltd., Reliance Industries Ltd., and PwC). The corporate finance vertical is led by Mr. B.Chandrasekaran, a veteran in banking and finance field who has decades of experience of heading finance functions of large conglomerates such as RIL and SREI Infrastructure Finance Ltd. Pantomath Group provides a one-stop-shop offering integrated business, legal and financial solutions to varied sections of society including SMEs and large corporate enterprises. Pantomath Capital Advisors (P) Ltd, a group entity of Pantomath, is SEBI registered Category I Merchant Bankers.
For further enquiries please contact:
Mr. Sarang Panchal - CEO (MRSS India)
Mail ID: email@example.com
Mr. Raj Sharma - President & Co-founder (Global)
Mail ID: firstname.lastname@example.org
Mr. Sandeep Bhatia - Executive Director
Mail ID: email@example.com
SOURCE MRSS INDIA