GSS Infotech

By Research Desk
about 12 years ago
GSS Infotech

 

GSS America Infotech, a leading Global IT Services company focused on providing scalable and cost-effective solutions using global delivery model, has filed its DRHP with SEBI on 22nd March, 2007 to enter the capital market with an initial public offering of equity shares. The issue has been stuck with Sebi for over 8 months.

 

The company proposes to offer 34,97,495 equity shares of Rs 10 each. The issue comprises of a net issue of 33,40,000 equity shares of Rs 10 each to the public and up to 1,57,495 equity shares of Rs 10 each will be reserved for subscription by eligible employees. The issue will constitute 26.30% of the post-issue capital of the company. The issue is being made through a 100% book building process.

 

The BRLM to the issue is Religare Securitas. The shares are proposed to be listed on the BSE and NSE.

 

The company is planning to invest in a 1,000-seater offshore facility with a capital outlay of about Rs 61 crore in Hyderabad. To finance its expansion plans - both organic and inorganic, the company is planning to raise about Rs 120 crore from the capital market

 

The company is a niche player in the area of Enterprise Application Integration and Infrastructure Management Services.

 

The company has placed its equity on a pre-IPO basis to leading Financial and Venture Capital Institutions like IL&FS and other private investors to the extent of Rs 35 crore.

 

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