Intrasoft Technologies to list its shares today


Intrasoft Technologies to list its shares today
Mumbai: IntraSoft Technologies, which operates the website 123greetings.com, has fixed April 12, 2010 as the listing date for its equity shares, which were issued via recent public issue. The shares will be listed on with Bombay Stock Exchange and National Stock Exchange of India. The company has fixed the issue price at 145 per equity share at the higher end of the price band of 137- 145 per share. The 37,00,000 shares issue which opened for subscription on March 23, 2010 and closed on March 26, 2010 received a good response from investors and was subscribed 18.15 times. The QIB portion was subscribed 21.97 times, while HNI and retail portion was subscribed 17.47 and 13 times respectively. The company has received 38,933 valid applications for the issue size of 53.65 crore. The issue had constituted 25.12 percent of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of 10 and the issue price is 14.5 times of the face value. The proceeds from the IPO will be used fund the company's requirements for branding and promotion, purchasing a corporate office in Kolkata, investment in technology infrastructure and for general corporate purposes. Collins Stewart Inga and Anand Rathi Advisors were the book running lead managers to the issue.