Anchor investors commit Rs 28.5cr: Infinite Computer

The initial public offering (IPO) of 11,503,000 equity shares of Infinite Computer Solutions India, a global service provider of Infrastructure Management, Intellectual Property (IP) leveraged solutions and IT services, has opened for subscription. The price band is fixed at Rs 155-165 per equity share.

The company has received a commitment of nearly Rs 28.5 crore from the anchor investors. They have subscribed for 17,25,450 shares at Rs 165 per share.

Anchor investors include T Rowe Price International, Carlson Fund - India, Lloyd George Investment Management, Alden Global (Mauritius), Credit Suisse (Singapore), Bharti Axa Equity Fund, Reliance Capital Trustee and Citigroup Global Markets Mauritius Pvt Ltd.

Anchor Investor	Equity shares	% of anchor investor portion
T Rowe Price International Inc A/C T Rowe Price International Discovery Fund	303,000	17.6
Carlson Fund - India	303,000	17.6
Lloyd George Investment Management (Bermuda) Ltd A/C LG India Fund	181,290	10.5
Lloyd George Investment Management (Bermuda) Ltd A/C LG India Plus Fund	121,330	7
Alden Global (Mauritius) Ltd	60,250	3.5
Credit Suisse (Singapore) Ltd	120,500	7
BATSPL A/c Bharti Axa Equity Fund	60,600	3.5
Reliance Capital Trustee Co Ltd A/c Reliance Regular Savings Fund - Balance Option	514,600	29.8
Citigroup Global Markets Mauritius Pvt Ltd	60,250	3.5
Total	1,725,450	100

The company will raise about Rs 189.8 crore at the higher end of the band. The issue will close for subscription on January 13, 2010.

The issue consists of a fresh issue of 57,33,600 equity shares by the company (amounts to around Rs 94 crore) and an offer for sale of 57,69,400 equity shares by Whiterock Investments (Mauritius) Limited, Vaibhav Bhatnagar and Sanjay Govil (amounts to around Rs 95 crore).

The issue will constitute 26.17% of the fully diluted post issue paid-up capital of the company. Its outstanding shares will be around 4.3957 crore post issue and the market cap will be at Rs 681–725 crore.

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