Tulip Telecom has announced that it is planning to buy an IT-managed services conglomerate in the US.

According to the sources, the conglomerate has reserved Rs 200 crore for the acquisition.

The company officials revealed that they are eyeing at the inorganic route for growing in the coming fiscals. As part of this, they have framed proposals to purchase managed services firm in the US.

Shares of the company closed down Rs 8.2, or 1.94%, at Rs 415. The total volume of shares traded at the BSE was 3,622 (Friday).