IT People Follow on Public Issue (FPO) oepns on August 27, 2007

IT People India Ltd has announced that the Company has filed Red Herring Prospectus (RHP) with the Registrar of Companies (ROC), Maharashtra, Mumbai and Securities and Exchange Board of India (SEBI) for Follow on Public Issue of (*) equity shares of Rs 2/- each for cash at a price to be determined by Book Building (including a share premium per equity share) aggregating Rs 4,525 lacs.

The Follow on Public Issue of equity shares will open on August 27, 2007 and close on August 31, 2007. The details relating to reservation have been disclosed in the Red Herring Prospectus and the Company will announce other details relating to the issue such as the Price Band for the FPO in due course.

The stock was trading at Rs.38.75, down by Rs.2.10 or 5.14%. The stock hit an intraday high of Rs.41 and low of Rs.38.20. The total traded quantity was 60310 compared to 2 week average of 75855.

Source : Equity Bulls

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