Intrasoft Technologies, which owns and operates the online greeting cards business 123greetings.com ended its debut day on the Indian bourses at Rs. 159.89, at a premium of Rs. 10.27% to its issue price of Rs. 145, at the upper end of its price band. The share had debuted at a discount, at Rs. 140. The IPO was oversubscribed, with subscriptions at 18.95 times. After Info Edge, this is the second Internet company to list in India. During the day the stock saw a high of Rs. 167.15, and a low of Rs. 123.30, according to data at the BSE, and around Rs. 253.19 crores in the stock was traded. At the end of the day Intrasoft had a market capital of Rs. 235 crores. Financials For 2009-10 Intrasoft MD Arvind Kajaria told CNBC-TV18 that they've closed the financial year 2009-10 with revenues of Rs. 310 million and a profit of Rs. 90 million, and are expecting as much at Rs. 520 million in 2010-11 and a profit of Rs. 140 million. In addition, the company is expecting to turn in profit of Rs. 9 crores. I suppose "Other Income" from the money raised via the IPO should come in handy. For the 2008-09 fiscal, Intrasoft had reported revenues of Rs. 230 crores and net profit of Rs. 53 million. Watch the video here. Event Invitations: Following Evite's Footsteps The other interesting part of that interview is that 123greetings is halfway into launching an an e-invitation website, a market that Kajaria…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...