IT People proposes follow-on public offer

Saturday, March 17, 2007, 10:43 [IST]

New Delhi, Feb 26 (UNI) IT People India Ltd has said it is proposing to make a follow-on Public Offering (FPO) of equity shares at a tune of Rs 45.25 crore through 100 per cent book building process.

The FPO has been planned to generate additional resources to meet its expansion needs including investment in technology infrastructure, product enhancement and business expansion, a company statement said.

The company has filed its Draft Red Herring Prospectus (DRHP) with SEBI and Bombay Stock Exchange (BSE).

Khandwala Securities Ltd and Religare Securities Ltd are the book running lead managers (BRLM's) to the issue.

UNI

Topics: IT-IT PEOPLE

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