IT People fixes price band for FPO as Rs.30 to Rs.32

IT People India Ltd has announced that the Board of Directors of the Company at its meeting held on August 24, 2007, has fixed the price band for the Follow on Public Issue at Rs 30/- to Rs 32/- per equity share of face value of Rs 2/- each. The issue price is 15 times of the face value at the lower end of the price band and 16 times of the face value at the higher end of the price band and a bidding lot is of minimum 200 equity shares and in multiples of 200 equity shares thereafter.

The Follow on Public Issue of equity shares will open on August 27, 2007 and close on August 31, 2007.

The Stock closed the day at Rs.39.60, up by Rs.0.95 or 2.46%. The stock hit an intraday high of Rs.39.60 and low of Rs.36.90. The total traded quantity was 159787 compared to 2 week average of 127108.

Source : Equity Bulls

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