Intrasoft Technologies IPO to open on March 23

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Intrasoft Technologies has decided to open its initial public offering (IPO) for subscription on Tuesday March 23, 2010 and will close on, Thursday, March 26, 2010.

Intrasoft Technologies operates the website www.123greetings.com , which is by number of unique visitors, is the largest electronic greeting cards website in India and second largest greeting card website in world (according to comScore Media Metrix during the 12 month period from November 2008 to October 2009).

It has been assigned a 'CARE IPO GRADE 3' indicating average fundamentals for its proposed IPO by Credit Analysis and Research.

Intrasoft has filed the red hearing prospectus with SEBI and ROC to enter the capital markets with an IPO of 37, 00,000 equity shares of face value of Rs 10 each for cash at a price to be decided through a 100% book-building process. The issue will constitute 25.12% of the post issue paid up capital of the company.

The company is approaching the capital markets to fund their requirements for branding & promotions, purchasing corporate office in Kolkata, investment in technology infrastructure and general corporate purposes.

The shares of Intrasoft Technologies will be listed on the BSE and NSE.

Collins Stewart Inga Pvt. Ltd. and Anand Rathi Advisors Ltd. are the book running lead managers to the issue.