19 Mar 2010, 1006 hrs IST,
MUMBAI: IntraSoft Technologies Ltd has priced
its initial public offer of 37,00,000 equity shares of face
value Rs 10 each in the Rs 137 to Rs
145 per share band. The issue opens on March 23,
and will close on March 26.145 per share band. The issue opens on March 23,
The company will raise Rs 50.69 crores at the lower end of the price band, which is 13.7 times the face value, and mop up Rs 53.65 crores at the upper end, which is 14.5 times the face value. The issue constitutes 25.12% of the post issue paid up capital.
At least 50% of the book build issue will be reserved for QIBs; not less than 15% reserved for non-institutional bidders and 35% reserved for retail individual bidders.
IntraSoft plans to fund the company’s requirements for branding & promotion, purchasing a corporate office in Kolkata, and investment in technology infrastructure from the issue proceeds.
CARE has assigned IPO Grade 3 to the IPO, indicating average fundamentals.
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