Thinksoft Global fixes IPO price at Rs 125 per share

initial public offer

Thinksoft Global Services, which extended the closing date of its initial public offer (IPO) from September 24 to October 1, 2009 on tepid response from investors, has fixed the IPO issue price at the upper end of the revised price band at Rs 125 per share.

The initial offer was subscribed over two times on the final day on October 1 with the company reported to have mopped up Rs 45.57 crore in the 36.46 lakh share IPO.

The company plans to use the IPO proceeds for establishing a new testing centre, to meet issue expenses and to get the shares listed on stock exchanges.

Thinksoft Global is primarily engaged in software testing services focusing on banking, financial and insurance services industry. The company has established a global presence in New York, London, Frankfurt, Singapore, Hong Kong, Brussels, Sydney, Bangalore and Chennai through its wholly owned subsidiaries and branch offices.

The company’s shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Pak plans to push terrorists to create mayhem in India: PC

New Delhi, Oct 25: Pakistan-based terror organisations Lashkar-e-Toiba, Jaish-e-Mohammed and Hizbul Mujahideen are planning to infiltrate terrorists into India to "create mayhem", Home Minister P Chidambaram said today, asserting that the country’s security forces were, however, prepared to meet any external threat.

He said Pakistan has no will to prosecute and punish the perpetrators of last year’s Mumbai attacks and voiced concern over the spread of Taliban in that country, apprehending that the danger could spread to the rest of South Asia including India.