Thinksoft Global sets Rs 120-130 per share price band for IPO

Public offer to remain open between 22 and 24 September 2009

Software firm Thinksoft Global Services said on 15 September 2009 it has priced its initial public offer (IPO) in a band of Rs 120 – 130 per share. The IPO would open for bidding on 22 September 2009 and close on 24 September 2009, a newspaper advertisement showed.

Thinksoft will issue 13.5 lakh new shares, while two existing investors - Euro Indo Investments and Vinod Ganjoor - will sell another about 23 lakh shares. The issue constitutes 36.27% of the company's stake post the offer. The company intends to utilise the proceeds of the fresh issue to establish new testing centres.

Thinksoft is a specialist in financial software testing with global clients in USA, UK, Europe, India and Asia-Pacific.