GSS America Debuts At Rs 400 On BSE

Shares of Hyderabad-based IT solution provider GSS America Infotech has GSS Americagot listed at its issue price of Rs 400 per share on the Bombay Stock Exchange (BSE).

The scrip has touched a high of Rs 475 and low of Rs 400 in early trading. In early trading (9.56 a.m.), the scrip was trading at Rs 448.30, and around 358,444 shares changed hands on BSE.

The company entered capital market through a public issue of 34,97,495 equity shares at a price band of Rs 400 a share. The issue got subscribed about 1.08 times.

The company has decided to utilize the income earned from the issue for establishing a high-tech Global Delivery Centre (GDC) at Hyderabad with 1,000 seater capacity, and also for setting up overseas offices, meeting working capital requirement and for acquisitions.

The Company’s present operations can be classified into two regions that is Enterprises Application Integration, (EAI) Infrastructure Management and Managed Services (IM/MS).

Its customers list comprises major Fortune 1000 companies including Ernst & Young, Blue Cross Blue Shield of NC, BMC Software, Thomson, WR Grace & Co, TDS Telecom, Pepsi Co, etc.