Infinite Computer Solutions (India) Limited IPO opens on January 11, 2010
Price Band fixed between Rs. 155 and Rs. 165 per equity share
Tweet-- Infinite Computer Solutions (India) Limited ("Infinite" or the "Company"), a global service provider of Infrastructure Management, Intellectual Property (IP) leveraged solutions and IT services, focused on the Telecom, Media, Energy, Manufacturing, and Healthcare industries, is entering the capital market on January 11, 2010, with an Initial Public Offering ("IPO") of 11.5030 million Equity Shares of Rs. 10 each for cash at a price to be decided through a 100% book-building process (the "Issue"). The price band has been fixed between Rs. 155 and Rs. 165 per Equity Share. The Issue closes on January 13, 2010.
The Issue consists of a fresh issue of 5.7336 million Equity Shares by the Company and an Offer for Sale of 5.7694 million Equity Shares. The issue will constitute 26.17% of the fully diluted post issue paid-up capital of the Company.
Upto 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"). Further, the Company may allocate upto 30% of the QIB Portion to Anchor Investors at the Anchor Investor Issue Price on a discretionary basis, out of which atleast one-third will be available for allocation to Domestic Mutual Funds. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to mutual funds only and the remaining Net QIB portion shall be available for allocation on a proportionate basis to all Qualified Institutional Buyers, including mutual funds, subject to valid bids being received at or above issue price. Further atleast 15% and atleast 35% of the Issue shall be available for allocation on proportionate basis to Non-Institutional Bidders and Retail Individual Bidders subject to valid bids being received from them at or above the Issue Price.
The Equity Shares offered through the Red Herring Prospectus ("RHP") of the Company are proposed to be listed on Bombay Stock Exchange Limited ("BSE") and National Stock Exchange of India Limited ("NSE"). The Book Running Lead Managers ("BRLMs") are SPA Merchant Bankers Limited and India Infoline Limited. The syndicate members are SPA Securities Limited, India Infoline Limited, Avendus Capital Private Limited and Reliance Securities Limited.
Notes to Editor
Infinite's services span from application management outsourcing, packaged application services, independent validation & verification, product development & support, to higher value- added offerings, including, managed platform and product engineering services. Its telecommunication-specific services and solutions to telecom Original Equipment Manufacturers (OEMs) and Independent Software Vendors (ISVs) include product engineering and lifecycle management services related to telecom equipment used in areas such as transmission, switching, access and Operational Support Systems (OSS), in both legacy and Next Generation Networks (NGNS).
Infinite's solutions for telecom service providers range from consulting on business and operating processes to the development of their Business Support System (BSS) and OSS systems, as well as, the integration of those systems with the underlying network technologies.
With experience in executing several large mission-critical IT and infrastructure projects for clients in the telecom domain, and acquisition in 2007 of a telecom-focused company, Comnet International Co., USA; Infinite is now one of the leading providers of telecom-specific offerings to service providers, OEMs and ISVs in the telecom vertical, globally.
Infinite's integrated network of delivery facilities across India and the US is complemented by onsite, offsite and near-shore capabilities in major international markets. It has 14 offices across the globe, including offices in multiple locations in the US, UK, India, China, Malaysia, Singapore and Australia. The world-class development environment of approx. 187,000 sq. ft. effectively meets the needs of it's global customers. It currently has four delivery centers in India - the company-owned facility in Bangalore, and leased facilities in Hyderabad, Gurgaon and Chennai.
Infinite has a long standing relationship with its major customers, which are large global companies namely Verizon, IBM, ACS, GE and AOL. In recent years, it has also created a platform for long term relationships with global companies like Fujitsu and Alcatel Lucent.
Infinite's consolidated revenues were Rs. 3,489.32 million in Fiscal 2006-07, Rs. 3,415.24 million in Fiscal 2007-08 and Rs.4,958.72 million in Fiscal 2008-09. For the six month period ending September 30 for the fiscal 2009-10, Infinite's revenues were Rs.3,181.26 million. The profit after tax and extraordinary items was Rs. 100.84 million in fiscal 2006-07, Rs. 174.97 million in fiscal 2007-08, Rs. 451.30 million in fiscal 2008-09 and Rs. 371.40 million for the six months period ended September 30, 2009.
Note:
Infinite Computer Solutions (India) Limited ("Infinite" or the "Company") proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Red Herring Prospectus ("RHP") with the Registrar of Companies ("ROC"), NCT Delhi and Haryana. The RHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the BRLMs at www.spacapital.com and www.iiflcap.com.
Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP, which has been filed with the ROC NCT Delhi and Haryana including the section titled "Risk Factors". Potential investors should not rely on the RHP filed with SEBI.
The Equity Shares have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the Securities Act). Accordingly, the Equity Shares will be offered and sold only outside the United States to non-US persons in offshore transactions in compliance with Regulation S of the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.