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IT People (India) FPO opens on 27 August 2007

Saturday, August 25, 2007

IT People (India) is coming up with its follow-on public issue on 27 August 2007 to raise Rs 45.25 crore. The price band for the FPO has been fixed between Rs 30 - Rs 32 per share, which will close on 31 August 2007.

The face value per share is Rs 2. The price band for the FPO is 15 times the face value at the lower end and 16 times at the higher end.

Based on the company's last traded price of Rs 39.60 on the BSE on Friday, 24 August 2007, the price band is 24.24% discount at the lower end and 19% discount at the higher end.

A bidding lot is of minimum 200 equity shares and in multiples of 200 equity shares thereafter.

IT People provides recruitment solutions to the IT and ITES industry globally. The company addresses vital requirements of the IT industry by providing human capital solutions and other services to all the segments of the industry through a recruitment portal.

The company has a blue chip clientele including Emirates Airlines, National Bank of Dubai, EDS, KPMG, Wipro, Hexaware among others.

The company's net profit surged 1457.1% to Rs 1.09 crore on 223.7% increase in sales to Rs 7.51 crore in the Q1 June 2007 over Q1 June 2006.

Posted by FR at 8:32 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.