IT People India IPO opens on 27th

IT People (India) Limited, an eRecruitment & Consulting company, is coming out with an IPO through the book building process. IT People IPO will open for subscription on Monday, 27 August 2007 and will close for subscription on Friday, 31 August 2007..

IT People (India) Limited  has not yet fixed the price brand for the IPO and has said that it will fix the price brand prior to the IPO opens for subscription. Net IPO issue proceeds would be Rs.3846.25 Lacs which is offered to the public.This Issue is being made through 100% Book Building Process wherein upto 50% of the Net Issue shall be allotted on a proportionat basis to Qualified Institutional Buyers (“QIBs”) (Including 5% for Mutual Funds only). Further, not less than 15% of the Net Issue shall be available for allocation to Non Institutional Bidders on a proportionate basis and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders on a proportionate basis.

As per the Draft Prospectus of IT People India Ltd, the proceeds of the IPO will be used for investment in Technology Infrstructure,Marketing and business expansion,Buying/Leasing of Office space and meeting long term work capital.

The shares of IT People (India) Ltd will be listed only on the Bombay Stock Exchange (BSE). The lead manager for the IT People (India) Limited IPO is Khandwala Securities ltd. and Religare Securities Limited. The registrar for the IT People (India) Limited IPO is TSR Darashaw.

For further information on the subscription / oversubscription details of IT People (India) Ltd IPO and to know the IPO allotment status, refund details and listing date of IT People (India) Ltd. IPO, do check www.bsensedaily.com regularly.

IT People (India) Limited IPO Prospectus
For more information, read the Draft Red Herring Prospectus of the IT People (India) Limited IPO Issue.