Jan 05, 2010
The company has fixed a price band of Rs 155-165 per share for its initial public offering.
Infinite Computer Solutions (India) Limited, a global service provider of infrastructure management, intellectual property (IP) leveraged solutions and IT services, is entering the capital market on 11 January 2010, with an initial public offering (IPO).
The company is planning IPO of 11.5030 million equity shares of Rs 10 each for cash at a price to be decided through a 100 percent book-building process ("issue"). The price band has been fixed between Rs 155 and Rs 165 per equity share. The issue closes on 13 January 2010.
The issue consists of a fresh issue of 5.7336 million equity shares by Infinite Computer and an offer for sale of 5.7694 million equity shares. The issue will constitute 26.17 percent of the fully diluted post issue paid-up capital of the company.
Up to 50 percent of the issue shall be allocated on a proportionate basis to qualified institutional buyers (QIBs). Further, the company may allocate up to 30 percent of the QIB portion to anchor investors at the anchor investor issue price on a discretionary basis, out of which at least one-third will be available for allocation to domestic mutual funds.
Further, 5 percent of the Net QIB portion shall be available for allocation on a proportionate basis to mutual funds only and the remaining Net QIB portion shall be available for allocation on a proportionate basis to all QIBs, including mutual funds, subject to valid bids being received at or above issue price. Further at least 15 percent and at least 35 percent of the issue shall be available for allocation on proportionate basis to non-institutional bidders and retail individual bidders subject to valid bids being received from them at or above the issue price.
The equity shares offered through the Red Herring Prospectus (RHP) of the company are proposed to be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).
Infinite has 14 offices across the globe, including offices in multiple locations in the US, UK, India, China, Malaysia, Singapore and Australia. The company's consolidated revenues for the fiscal 2008-09 was Rs 4,958.72 million.