Infinite Computer Solutions (ICSL), a global IT solutions and services provider, has filed its DRHP with SEBI on 12^th May, 2008 to enter the capital market with a public issue of 1,15,03,000 equity shares of Rs 10 each at a price to be decided at a later stage through the 100% book building process. The issue consists of a fresh issue of 57,33,600 equity shares by the company  and an offer for sale of 57,69,400 equity shares by Whiterock Investments (Mauritius), Mr Vaibhav Bhatnagar and Mr Sanjay Govil, promoters of the company.

The issue will constitute 26.17% of the fully diluted post issue paid-up capital of the company.

The company proposes to list its shares on BSE and NSE. The BRLMs to the issue are India Infoline and SPA Merchant Bankers.

The object of the issue is to provide for capital expenditure; to finance acquisitions costs; and for repayment of debt.

The company intends to use the proceeds from the issue to part finance the above-mentioned project cost. It will deploy Rs 35 crore for financing acquisitions; Rs 23.97 crore for capital expenditure and Rs 8.50 crore for repayment of debt.

For the year ended March 31^st 2007, the company posted an income of Rs 348.93 crore and a net profit of Rs 10 crore as compared with an income of Rs 342.31 crore and net loss of Rs 49 lakhs for FY06. For the 9 months period ended 31^st December, 2007, the company posted an income of Rs 246.34 crore and a net profit of Rs 10.13 crore.