January 5, 2010 / 8:01 AM / 11 years ago

Infinite Comp fixes IPO price band at 155-165 rupees

MUMBAI (Reuters) - Infinite Computer Solutions (India) Ltd said on Tuesday it has fixed a price band of 155-165 rupees a share for its initial public offering (IPO) of 11.5 million shares to raise up to 1.9 billion rupees.

Existing shareholders will offload 5.77 million shares, while another 5.7 million shares will be issued as fresh equity, resulting in equity dilution of 26.17 percent, the company said in a statement.

The publi offer of the IT services provider will be launched on January 11 and will remain open till January 13, it added.

SPA Merchant Bankers and India Infolinie Ltd are the bankers for the issue.

(Reporting by Bharghavi Nagaraju; Editing by Harish Nambiar)

For more news on Reuters Money visit http://www.reutersmoney.in

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