Update: Let's see what happens tomorrow, when the IPO opens for subscription. The Hindu Business Line suggests that the share is avoidable, and that net profits would have been less had it not been for stringent cuts in employee costs. Scalability and ability to attract advertising are key issues. A report in the Economic Times brands it as 'risky', saying that the revenue depends on a volatile online advertising environment. Earlier today: IntraSoft Technologies, which promotes online cards website 123Greetings.com, has fixed a price band of Rs 137 to Rs 145 for its IPO: the company will issue 3.7 million equity shares of face value Rs 10 each and will open for subscription from March 23 to March 26, 2010. In case you weren't aware, March 23rd, according to 123Greetings.com, is Cuddly Kitten Day. Post IPO, the company will be listed on the NSE and the BSE. The company is profitable: for the year ended 31st March 2009, Intrasoft reported revenues of Rs. 230 million, and a net profit of around Rs 53 million. Utilization Of Funds - 201.56 M For Branding & Promotion! 123Greetings expects to raise Rs 506.9 million on the lower end of the price band, and Rs 536.5 million at the upper end. Their plan is to to invest as much as Rs 201.56 over FY 2011 and 2012 for branding and promotion: -- Rs 95.8 million will be utilized for online advertisements -- Rs 88.14 million for Television advertisements, and -- Rs 17.63 for radio advertisements primarily for their key market,…
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