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E-Zest Solutions IPO (initial public offering) : Files DRHP with SEBI

Contributed by Bell The Bull

Pune based e-Zest Solutions Limited is entering into primary market with an Initial Public Offering (IPO) of 100,00000 Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is going to dilute its 40.83% stake to raise the money through this IPO. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has yet to be decided. The price band would be decided by the company later on. e-Zest Solutions is a Global Software Product Engineering and Enterprise application development Company having expertise in emerging technologies viz. Cloud computing/SaaS, Business Intelligence and Mobility. The company offers its services to ISVs/IT services, Health-care, Finance, Manufacturing, Legal, Education, Government, HR & Travel business verticals. e-Zest have dedicated Microsoft , Sun & Open Source Competency Centers which focus on solutions and services on based Microsoft .NET (3.5/4.0), Sun Java EE (6.0) & LAMP respectively.

The company plans to utilize the proposed IPO funds for setting up of software development centre, product/IP development. setting up of an overseas sales and delivery offices. acquisition of domestic company and up-gradation of existing IT infrastructure.

The company reported a net profit after tax of Rs 2.35 crore on total income of 22.13 crore in the year ended March 31, 2011, a growth of 143% and fall of 15.7%, respectively.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

IPO Summary :-
IPO Open : –
IPO Type : 100% Book Built Issue IPO
IPO Size : 100,00000 Equity Shares of Rs 10 each
IPO Size : Rs — Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs – Rs Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE

The Sole Book running lead manager (BRLM) to the issue is Choice Capital Advisors Private Limited.

Registrar of the Issue : Link Intime (India) Limited, Mumbai