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Saturday, September 29, 2007

Ybrant Tech files DRHP with Sebi

Ybrant Technologies has filed its draft red herring prospectus (DRHP) with SEBI for entering the capital market with its initial public offering (IPO) of 3,500,000 equity shares of Rs 10 each. The issue will be conducted through 100% book building process and would constitute 15.85% of the fully diluted post-issue paid-up capital of the company.

Ybrant Technologies offers comprehensive end-to-end digital marketing services to direct marketers, brand advertisers and marketing agencies across the world. Ybrant Technologies along with its subsidiaries -- International Expressions Inc, Frontier Data Management Inc and Pennyweb Inc, focuses on harnessing the marketing power of the digital media through delivering technologies, network and insights that drive measurable and accountable results to its clients.

At least 60% of the issue shall be allotted on a proportionate basis to qualified institutional buyers (QIBs), out of which 5% shall be available for allocation on a proportionate basis to mutual funds only. Further up to 10% of the issue shall be available for allocation on a proportionate basis to non institutional bidders and up to 30% of the issue shall be available for allocation on a proportionate basis to retail individual bidders.

The company is considering a pre-Issue placement of up to 1,200,000 equity shares. The issue size offered to the public would be reduced to the extent of such pre-Issue placement.

The book running lead managers to the issue are YES Bank and Enam Securities Private Limited and the co-book running lead manager to the issue is Saffron Capital Advisors Private Limited. The shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.

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