Vishal Information Technologies IPO Note

July 17, 2008

Price Band: Rs. 140 - 150 per share
Issue open between: July 21 - July 24, 2008
Book Running Lead Managers: Keynote Corporate Services, IDBI Capital Market Services
To List on: NSE and BSE
Market Cap post-listing: Rs. 160 Cr. or $37 million (based on the cap price)

Executive Summary

- Vishal Information Technologies Ltd. (VITL) is a Chennai-based ITES company, promoted by established Tutis Technologies Ltd. The company provides services of data digitization, E-publishing, digital library, E-accounting and fund accounting. The company also specializes in the production of large print files specially aimed for the visually impaired.

- Indian exports of software and services valued at $31.4bn. It includes exports of BPO and IT enabled services of $8.4bn. In FY07, the ITES and BPO exports recorded a growth of 33.5%.

- NASSCOM expects the growth trajectory to continue, going forward. It estimates the segment to grow @ 32% in FY08.

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Posted in IPO