Software firm Thinksoft Global Services has set a price band of Rs 120-130 a share for its initial public offer (IPO).
The software provider to banking, financial services and insurance will hit the capital market with a public issue of 3.65 million equity shares on September 22, 2009 and close the issue on September 24, 2009.
The IPO will consist of a fresh issue of 1.35 million equity shares and an offer for sale of 2.29 million equity shares from the existing shareholders - Euro Indo investments and Vinod Ganjoor.
The issue will constitute 36.27 per cent of the post issue paid-up equity capital of the company.
The proceeds will mostly be used to establish a new testing centre, Thinksoft said in its draft red herring prospectus filed with the regulator earlier this year.
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