IT People to raise funds through follow-on public issue

IT People India Ltd has announced that the Company is proposing to make a Follow-on Public Offering (FPO) of Equity Shares to the tune of Rs 45.25 Crores through 100% book building process and has filed its Draft Red Herring Prospectus (DRHP) with SEBI and Bombay Stock Exchange (BSE).

The above FPO has been planned to generate additional resources to meet its expansion needs such as Investment in technology infrastructure, Product Enhancement and Business Expansion.

Khandwala Securities Ltd and Religare Securities Ltd are the Book Running Lead Managers (BRLM's) to the proposed issue and TSR Darashaw Ltd is the Registrar to the Issue.

Source : Equity Bulls

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