Mumbai, 15th September, 2009: Thinksoft Global Services Limited is entering the capital market with a Public Issue of 36,46,000 Equity Shares of Rs. 10/- each through a 100% Book Building route. The IPO consists of a fresh issue of 13,50,000 Equity Shares and an Offer for Sale of 22,96,000 Equity Shares by Euro Indo Investments and Mr. Vinod Ganjoor. The issue would constitute 36.27% of the post issue paid-up equity capital of the company.
The price band is Rs. 120/- to Rs.130/- per Equity Share of Rs. 10/- each.
The Bid / Issue Opens on Tuesday, 22nd September, 2009 and Closes on Thursday, 24th September, 2009.
Thinksoft Global Services Limited has been promoted by Mr. Asvini Kumar (PGDM, IIM-Bangalore), Ms. Vanaja Arvind (M.S., Information Science, University of Pittsburgh) and Mr. Mohan Parvatikar (PGDM, IIM-Bangalore).
The Company was founded with the objective of providing value added IT services to the Global Financial Services sector by offering the offshore model for financial software testing.
Focusing on providing independent software testing solutions to the Banking, Financial Services and Insurance (‘BFSI’), Thinksoft Global Services Limited has notched up over 8-million hours person of project track record, in over 10 years of experience serving clients in the target sector.
The Company was rated among Deloitte Tech Fast 500 Asia Pacific in the years 2006 and 2007 and 2008.
The Company has established a global presence through its wholly owned subsidiaries, branch offices and place of establishments in New York, London, Dubai , Frankfurt, Singapore, Hong Kong, Brussels, Bangalore and Chennai.
Thinksoft Global Services Limited has a track record of consistent growth. For the year ended 31st March, 2009, the Company’s Profit after Tax stood at Rs.14.49 crores on gross revenue of Rs. 95.66 crores. Its revenues have clocked a CAGR of 43.5% over the past 4 years.
The Company’s customers are amongst the top tier in the financial services sector and look for exclusive secure dedicated testing center.
In order to upgrade its infrastructure, the company is setting up facilities at Madras Export Processing Zone in Chennai with a capacity of 400 seats at an estimated outlay of Rs. 16.09 crores.
The issue is being made to fund the setting up of this facility as well as to meet issue expenses and get the shares listed on stock exchanges.
The Equity Shares of the Company would be listed on NSE (designated stock exchange) and BSE.
The Book Running Lead Manager is Karvy Investor Services Limited and Chartered Capital and Investment Limited is the Co-Book Running Lead Manager to the issue.
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