Infinite Computer sets IPO price band at Rs 155-Rs 165

Issue to remain open between 11 to 13 January 2009
Infinite Computer Solutions (India)'s initial public offer (IPO) of 1.15 crore equity shares opens for subscription on 11 January 2010. The IPO closes on 13 January 2010.
The company will offer shares through a 100% book-building process. The price band for the IPO has been set at Rs 155 to Rs 165. At the top end of the price band, the company will raise about Rs 190 crore.
The IPO includes fresh issue of 57.,33 lakh equity shares and an offer to sell 57.69 lakh equity shares by Whiterock Investments (Mauritius).
The company intends to utilize the IPO proceeds for meeting capital expenditure, making acquisitions and repaying debt.
Infinite Computer Solutions (India) is mainly into software application development and maintenance but has diversified into other areas such as remote infrastructure management and research & development services.