IT People (India) is coming up with its follow-on public issue of equity shares of Rs 2 each for cash aggregating to Rs 45.25 crore.
The equity shares aggregating to Rs 2.26 crore have been reserved for the eligible employees of the company and the equity shares aggregating to Rs 4.52 crore have been reserved for the group company (s) / shareholders of the group company(s). The net issue to the public aggregates to Rs 38.46 crore.
The issue opens on Monday, August 27, 2007 and closes on Friday, August 31, 2007.
IT People is a well established company providing human capital solutions on 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 global network of state-of-the-art e-Recruitment portal. The company follows stringent quality and information security standards and it is the only company in its space to have both ISO 9001: 2000 as well as ISO 27001:2005 certifications. In addition to online services, IT People has a complementary ‘brick and mortar’ model for providing a range of contract consulting services that meet clients’ off-line requirements as well.
IT People has signed a MOU with Dubai Outsource Zone to become it’s exclusive authorized partners for promoting and marketing the zone in India, which is the world’s first ‘Free Zone’ for outsourcing. The Company has a blue chip clientele including Emirates Airlines, National Bank of Dubai, EDS, KPMG, Wipro, Hexaware among others.
For the year ended March 31, 2007, IT People posted revenues of Rs 17.52 crore and Net Profit of Rs 3.08 crore. For the first quarter ended June 30, 2007, its revenues stood at Rs 7.51 crore (Rs 2.32 crore) and net profit at Rs 1.09 crore (Rs 0.07 crore).
The shares being issued will also be listed on the Bombay Stock Exchange.
The book running lead managers to the issue are Khandwala Securities and Religare Securities. Syndicate members of the issue are Reliance Securities., Sunidhi Securities & Finance Ltd. and Moneycare Securities & Financial Services Ltd.
The equity shares aggregating to Rs 2.26 crore have been reserved for the eligible employees of the company and the equity shares aggregating to Rs 4.52 crore have been reserved for the group company (s) / shareholders of the group company(s). The net issue to the public aggregates to Rs 38.46 crore.
The issue opens on Monday, August 27, 2007 and closes on Friday, August 31, 2007.
IT People is a well established company providing human capital solutions on 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 global network of state-of-the-art e-Recruitment portal. The company follows stringent quality and information security standards and it is the only company in its space to have both ISO 9001: 2000 as well as ISO 27001:2005 certifications. In addition to online services, IT People has a complementary ‘brick and mortar’ model for providing a range of contract consulting services that meet clients’ off-line requirements as well.
IT People has signed a MOU with Dubai Outsource Zone to become it’s exclusive authorized partners for promoting and marketing the zone in India, which is the world’s first ‘Free Zone’ for outsourcing. The Company has a blue chip clientele including Emirates Airlines, National Bank of Dubai, EDS, KPMG, Wipro, Hexaware among others.
For the year ended March 31, 2007, IT People posted revenues of Rs 17.52 crore and Net Profit of Rs 3.08 crore. For the first quarter ended June 30, 2007, its revenues stood at Rs 7.51 crore (Rs 2.32 crore) and net profit at Rs 1.09 crore (Rs 0.07 crore).
The shares being issued will also be listed on the Bombay Stock Exchange.
The book running lead managers to the issue are Khandwala Securities and Religare Securities. Syndicate members of the issue are Reliance Securities., Sunidhi Securities & Finance Ltd. and Moneycare Securities & Financial Services Ltd.
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