The Financial Express

October 22, 2003

Sami Labs Appoints E&Y To Explore Fund-raising Options

Bangalore-based Sami Labs has appointed Ernst & Young (E&Y) to explore options for an initial public offering or private placement of equity to invest close to Rs 100-200 crore over a year.

“ E&Y is likely to complete the first phase of their report by Dec 31, 2003 and the final report by Mar 31,04 to enable us decide on the options,” Sami Labs chairman and MD Muhammed Majeed said.