Vishal Information Technologies, the Subsidiary of Tutis Technologies, is entering the capital market on 21st July with a public issue of 27, 90,000 equity shares of Rs 10 each through 100% book building process.

The issue opens on 21st July and closes on 24th July, 2008. The issue will constitute 26.12% of the fully diluted Equity share capital of the company.

The company has fixed the price band for its initial public offer in the Rs 140-150 a share range.

Vishal Information Technologies Limited (VITL) is a fast-growing IT-enabled services and solutions providing company. The company focuses on providing solutions for the print production industry with services like E-Publishing, E-Book, Print on Demand, Data and Document Management, Data Conversion, Digital Library Management and more.

The company proposes to utilize the net proceeds of the issue to part finance the cost of the proposed expansion of the facilities in Chennai and the cost of setting up Quality Assurance Centre and marketing office in Mumbai.

The issue would also be utilized for setting up of subsidiaries in UK and USA.

The company proposes to list its shares on BSE & NSE.