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IT People (India) Limited FPO (IT People FPO) Detail

Aug 27, 2007 - Aug 31, 2007

Incorporated in January 2000, IT People (India) Ltd is in the business of eRecruitment, Consulting and Outsourcing for IT industry in India. IT People (India) Ltd is a publicly listed company in BSE (Bombay Stock Exchange).

The e-Recruitment Portal of the company provides platform for employers, placement consultants, jobseekers and research companies in the IT Industry to post, search, advertise, and use researched information pertaining to their areas of interest.

IT People consulting business helps its clients in understanding the vital link between business processes, technologies and resource requirements.

IT People Ltd. has been appointed as Partners for India for promoting and marketing Dubai Outsource Zone (DOZ) and helping clients to set up their outsourcing base in DOZ. IT People (India) Ltd are also the “Preferred Business Partner” globally for providing recruitment and human resource consultancy services, facility management services, and build, operate and transfer services.

Objects of the Issue

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for
1. Investment in Technology Infrastructure & Product Enhancement;
2. Marketing and Business Expansion;
3. Buying/Leasing of Office Premises;
4. Long Term Working Capital.

IT People FPO Details

IT People FPO Date Aug 27, 2007 to Aug 31, 2007
IT People FPO Face Value ₹2 per share
IT People FPO Price ₹30 to ₹32 per share
IT People FPO Lot Size 200 Shares
Issue Size[.] shares of ₹2
(aggregating up to ₹45.25 Cr)
Issue Type Book Built Issue FPO
Listing At BSE

IT People FPO Lot Size

The IT People FPO lot size is 200 shares. A retail-individual investor can apply for up to 31 lots (6200 shares or ₹198,400).

Application Lots Shares Amount
Retail (Min) 1 200 ₹6,400
Retail (Max) 31 6200 ₹198,400

IPO Notices

External Link

IT People (India) Limited FPO Suspended

August, 30 2007: Khandwala Securities Ltd & Religare Securities Ltd (Book Running Lead Managers (BRLM's)) for the Further Public Issue of the Company, have informed BSE that the Company has decided not to proceed with the issue, in terms of para 2 appearing on page no 112 of the Red Herring Prospectus.

The application money received from the applicants will be refunded in terms of the Red Herring Prospectus.

The Company has decided with the consent of the Board, not to follow through it’s current FPO, as certain key strategic investors have proposed for providing of long term equity participation in the Company. This would substantially complement and strengthen the company’s long term plans and strategies.

The Company received a favorable response from the QIB & HNI participants in the FPO but due to a lack of response to desired levels from the retail investors (inspite of the issue been completely underwritten by the BRLM’s) the Company has decided to withdraw the issue. The Company will take the opportunity of moving ahead with the interest shown by strategic investors.


IT People FPO Subscription Status (Bidding Detail)

The IT People FPO is subscribed 0.30 times on Aug 30, 2007 5:00:00 PM. The public issue subscribed 0.05 times in the retail category, 0.47 times in the QIB category, and 0.02 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

IT People FPO Prospectus

IT People FPO Rating

59
3.3
Rating:Rated 3.3 stars
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Company Contact Information

IT People (India) Limited
IT-People House, A. K. Industrial Estate,
Veer Savarkar Flyover, S.V.Road,
Goregaon (West), Mumbai 400 062, India
Phone: +91 22 2878 6600
Email: crbhagwat@it-people.com
Website: http://itpeopleltd.in

IT People FPO Registrar

Mondkar Computers Private Limited

Phone: 022 - 2836 6620 / 2825 7641
Email: itpil.fpo@tsrdarashaw.com
Website: https://www.unisec.in/

IT People FPO Review

IT People FPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 1
Members 0 0 0

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IPO Broker Recommendations

  • Keynote Capitals Ltd - Apply
  • S P Tulsian - Avoid

IT People FPO FAQs

IT People FPO is a main-board FPO of [.] equity shares of the face value of ₹2 aggregating up to ₹45.25 Crores. The issue is priced at ₹30 to ₹32 per share. The minimum order quantity is 200 Shares.

The FPO opens on Aug 27, 2007, and closes on Aug 31, 2007.

Mondkar Computers Private Limited is the registrar for the FPO. The shares are proposed to be listed on BSE.

The IT People FPO opens on Aug 27, 2007 and closes on Aug 31, 2007.

IT People FPO lot size is 200 Shares and the minimum order quantity is .

You can apply in IT People FPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for IT People FPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the IT People FPO allotment status.

The IT People FPO listing date is not yet announced. The tentative date of IT People FPO listing is [.].
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IT People FPO Message Board

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23 Comments

23. vinay |   Link |Aug 31, 2007 10:18:28 PM
haha.good work by retailers.we need to teach all these overpriced buffons a lesson.purvankara learnt and now IT.
hope in future all these robbers price their IPO at a decent price
22. Vikram |   Link |Aug 31, 2007 10:13:56 AM
IT People retracts FPO on poor response (my iris report)

The book running lead managers of follow on public offer (FPO) of IT People (India) announced today that IT People (India) decided not to proceed with the issue, and the application money received from the applicants will be refunded.

The company decided not to follow through its current FPO, as certain key strategic investors have proposed for providing of long term equity participation in the company. This would substantially complement and strengthen the company`s long term plans and strategies.

The company received a favourable response from the QIB & HNI participants in the FPO but due to a lack of response to desired levels from the retail investors (despite the issue been completely underwritten by the BRLMs), the company has decided to withdraw the issue. The company will take the opportunity of moving ahead with the interest shown by strategic investors.

Shares of the company declined Rs 2.3, or 6.27% to settle at Rs 34.4. The total volume of shares traded was 279,737 at the BSE. (Thursday)
21. retalier |   Link |Aug 31, 2007 8:03:38 AM
Good response retailers!!!!!
20. Biju |   Link |Aug 30, 2007 1:33:26 PM
Can anyone guide me on this FPO..? Is it worth investing even for short term..? Have heard about their expansion plans..sounds good.
19. raj |   Link |Aug 28, 2007 2:23:11 PM
I am not able to see this IPO in mi ICICI Direct account..Please help me...
18. Hiren |   Link |Aug 28, 2007 9:15:35 AM
please avoid this issue. QIBs is 0 on first day.
17. ram |   Link |Aug 27, 2007 2:33:30 PM
pl dont apply this fpo it is not goot resultwise
16. ashwin jain |   Link |Aug 25, 2007 1:48:16 PM
could any 1 tell me for which ipo i shd go for good returns on the day of listing?
15. ashwin |   Link |Aug 25, 2007 1:46:51 PM
plz go for this fpo....will giv u good returns
14. nandit |   Link |Aug 24, 2007 10:33:46 PM
IT people fixed FPO price Rs30-32
13. vipul vyas |   Link |Aug 23, 2007 6:57:29 PM
it people having bright future & i think u can get the highest return then u invest in
12. falgun patel |   Link |Aug 23, 2007 6:55:32 PM
u must applied for it people so u can get the double return for ur investment
11. ARPIT THAKKAR |   Link |Aug 23, 2007 6:52:30 PM
must fulfill it people having so many comapanies which is top of market so as many as possible application u can applied for
10. raksha |   Link |Aug 23, 2007 3:26:55 PM
in this week, so many ipo's came ,so that i want to know which ipo is best. can u tell me. i am waiting your answer as soon as possible.
9. raj |   Link |Aug 22, 2007 5:12:50 PM
Avoid this FPO, it's result may be worst than that of ICICI
8. manchana |   Link |Aug 21, 2007 10:03:42 PM
Stay away.... 52 week low Rs.8 on 22 Aug 06 and 52 week high Rs.41.35 on 14 Aug 07. This high can only be "a manipulated" value to fool the investors by keeping an inflated issue price.

DONT apply........
7. Mac |   Link |Aug 20, 2007 4:59:06 PM
The top bank ICICI bank FPO robbed us. What can u expect from this unknown company?
6. subhash modi |   Link |Aug 19, 2007 12:13:02 AM
sebi and other financial control institutes failed to protect investor's money.only , only and only investor can do something to stop the primary market loot (heavy premium) by avoiding to subscribe these types of issues.
5. karmyogi |   Link |Aug 18, 2007 9:36:10 AM
This is company making profit double from last three years, in march it makes loss of 13.65 Mn Rs. but from year ending March 2005 it makes profit 2.41, March 2006 5.2 and march 2007 30.8, I think it is progress making company, it is not bed. but it can decided after the issue price, which is yet not decided.
4. amit |   Link |Aug 17, 2007 3:25:29 PM
how these buffons to come out with a FPO in these volatile times.anyone knows this company?