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Infinite Computer Solutions to list on Feb 3
Infinite Computer Solutions (India), a global service provider of Infrastructure Management, Intellectual Property (IP) leveraged solutions and IT services, will list its equity shares on the exchanges on February 3. The issue price is fixed at Rs 165 per share.
Infinite Computer Solutions (India), a global service provider of Infrastructure Management, Intellectual Property (IP) leveraged solutions and IT services, will list its equity shares on the exchanges on February 3. The issue price is fixed at Rs 165 per share.
It was the first initial public offering (IPO) of the year 2010 and received tremendous response from investors. The issue had seen a record subscription of 43.22 times. The reserved portion of non-institutional investors and qualified institutional investors got subscribed 106 times and 48.44 times, respectively. Retail investors' portion was subscribed 11.08 times.
Infinite entered the capital market during January 11-13, 2010, with an IPO of Rs 189.8 crore and the price band was between Rs 155 and Rs 165 per equity share.
The issue consisted of a fresh issue of 57,33,600 equity shares by the company (amounts to around Rs 94 crore) and an offer for sale of 57,69,400 equity shares by Whiterock Investments (Mauritius) Limited, Vaibhav Bhatnagar and Sanjay Govil (amounts to around Rs 95 crore).
The fresh issue proceeds will be used for capital expenditure (Rs 25.7 crore); acquisitions (Rs 38 crore) and repayment of debt (Rs 8.4 crore).
