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Monday, August 13, 2007

Omnitech InfoSolutions to list on August 14

After receiving huge response to its initial public offer (IPO), Omnitech InfoSolutions will list on the bourses with 13139283 shares on August 13, 2007. The offer price fixed at Rs 105 per share.

The company had come out with a public issue at a price band of Rs 90 to Rs 105 per equity share of Rs 10 each and that subscribed 57.87 times.

UTI Bank was the BRLM and India Infoline is the Co-BRLM for the issue.

Omnitech InfoSolutions proposes to utilize the net proceeds of the issue to fund acquisitions and strategic investments and/or to alternatively set up new technology center; to set up overseas offices for business expansion; and to enhance existing facilities.

The company offers a wide range of IT services and products such as business availability services, business continuity services, systems integration solutions, framework solutions and products. In business availability services, it provides services such as infrastructure management, application management and software testing. In business continuity services, it provides services such as disaster recovery management and disaster recovery consulting and auditing.


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