Sunday, April 4, 2010

Intrasoft Technologies IPO - Analysis,Subscription,Allotment,Listing

Intrasoft Technologies Limited provides electronic greeting card services through website, 123greetings.com. 123greetings is the largest electronic greeting cards website in India and 2nd largest in the world. 123greetings has range of over 20,000 electronic greeting cards designed to cater to varying geographical and religious celebrations, occasions and other events. The company has raised Rs 53.65 crore through the issue of 37,00,000 shares.

The proceeds from the IPO will be used fund the company’s requirements for branding & promotion, purchasing a corporate office in Kolkata, investment in technology infrastructure and for general corporate purposes. The issue will open from March 23 and will close on March 26, 2010. The price band is Rs. 137 - Rs. 145. Collins Stewart Inga Private Limited and Anand Rathi Advisors Limited were the Book Running Lead Managers to the issue.

The IPO got a good response from investors and got over 18 times subscribed. At the close of the IPO,
QII segment got subscibed by 21 times
NII segment got subscribed by 21 times
Retail segment got subscribed by 13 times

Click here to check if you have been alloted Intrasoft Technologies shares!

It was opened at an issue price of Rs 145 per share and closed at Rs 158.40. The shares registered an increase of 9.24%. The intraday price of the shares has touched Rs 167.40. The volume of shares were of 2.2 crore and has seen a turnover of Rs 345 crore. The share has taken a tumbling since then and is trading at a discount to its issue price.

Watch out this blog for all the details on subscription, allotment and listing!


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