The Hindu : Business : Prithvi Info fixes price band

Online edition of India's National Newspaper
Tuesday, Oct 25, 2005

Business

Business

Prithvi Info fixes price band

Special Correspondent

Plans to set up state-of-the-art campus

HYDERABAD: Prithvi Information Solutions Ltd, a leading provider of technology and process outsourcing services, is entering the capital market with a public issue of 50-lakh equity shares of Rs. 10 each.

Comprising 4.5 lakh equity shares of Rs. 10 each reserved for eligible employees, the company has made a net offer to public of 45.5 lakh equity shares of Rs. 10 each. The issue, being made through a 100 per cent book-building process, will constitute 27.6 per cent of the fully diluted post-issue paid-up capital and the price band is fixed at Rs. 250-270 per share. The issue opens on October 25 and closes on October 28.

Announcing the public offer here on Monday, Prithvi Information Solutions chairperson, V. Madhavi, said the company planned to invest the Rs. 135 crore raised through the issue on setting up a Rs. 90-crore state-of-the-art campus in Hyderabad while the balance would be used as working capital.

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