GSS America Infotech Ltd. IPO

GSS America Infotech Ltd has filed its draft red herring prospectus (DRHP) with Securities & Exchange Board of India (SEBI). The company has done this in order to enter the capital market with the GSS America Infotech Ltd. IPO. GSS America Infotech Ltd. is one of the top most companies in the information technology services across the world. It focuses on offering solutions that are cost effective and also scalable by using the model of global delivery.

The net profit of GSS America Infotech Ltd. stood at ` 2.56 lacs in 2003- 2004. In 2004- 2005, this figure came to ` 492.27 lacs, and in 2005- 2006 this figure increased to ` 1093.62 lacs.

GSS America Infotech Ltd proposes to offer equity shares 3,497,495 of about ` 10 each in its GSS America Infotech Ltd. IPO. The issue will consist of 1,57,495 equity shares of around ` 10 each that will be available for subscription by the employees that are eligible and around 3,340,000 equity shares of about ` 10 each will be reserved for subscription by the public.

The issue of GSS America Infotech Ltd. IPO is being done through the process of 100% book building. GSS America Infotech Ltd. IPO will consist of around 26.30% of the post- issue capital of GSS America Infotech Ltd. The company by issuing GSS America Infotech Ltd. IPO is hoping to generate around ` 120 crores from the market.

Objectives in issuing GSS America Infotech Ltd. IPO are:

• To raise funds in order to establish a 1000 seater world wide delivery center at Hyderabad that matches global standards.
• To raise funds in order to make acquisitions.
• To raise funds in order to establish offices overseas.
• To raise funds in order to meet the requirement of working capital.
• To raise funds in order to get the companies shares listed on BSE and also NSE.

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