Infinite Computer Solutions (India) files DRHP with SEBI

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Infinite Computer Solutions (I) Ltd, a global IT solutions and services provider, has filed its Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India to enter the capital market with its initial public offering of its equity shares.

The public issue consists of a fresh issue of 57,33,600 equity shares by the company and an offer for sale of 57,69,400 equity shares of Rs 10 each, at price to be decided through the 100% book building process. The Equity Shares offered through this Issue are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

Upto 50% of the Issue will be available for allocation to qualified institutional bidders on a proportionate basis, of which 5% shall be available to mutual funds only. Further, up to 35% of the Issue shall be available for allocation on a proportionate basis to non-institutional investors and up to 15% of the Issue shall be available for allocation on a proportionate basis to retail individual investors. The Issue will constitute 26.17% of the fully diluted post issue paid-up capital of the Company.

The Book Running Lead Managers (BRLM) to the Issue are India Infoline Ltd. and SPA Merchant Bankers Ltd. The shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).