Vishal Information Technologies initial public offer opens on July 21, 2008 and will close on July 2

Vishal Information Technologies an IT-enabled services and solutions provider company is planning to raise about Rs 41.85 crore through its initial public offer. This company is promoted by Tutis Technologies and is based in Chennai (in southern India).

Credit rating agency CARE has assigned "IPO Grade 3" to the offer. This grade indicates average fundamentals.

The public issue will be of 27.90 lakh shares of Rs 10 each. The shares would be sold in the price band of Rs 140-150.

At the upper end of the price band, the company would raise about Rs 41.85 crore, while at the lower end it would raise Rs 39.06 crore.

The initial public offer will open on July 21, 2008 and will close on July 24, 2008.