Vishal Information Technologies Ltd.

Kingsley Chambers, Block No.26 , Ramasamy Street , T Nagar, Mambalam , Chennai (Madras) , Tamil Nadu - 600017
Phone: 24362751 Fax: 24362756
Public Issue of 2790000 Equity Shares of Rs 10 each for Cash at a Premium of Rs 140 per share.

Issue Open Date Issue : 21/07/2008

Closing Date : 24/07/2008

Application Money : 150

Allotment Money        :   -

Lead Managers          : KEYNOTE CORPORATE SERVICES LTD

Registrar                  : INTIME SPECTRUM REGISTERY LTD
                               C-13, PANNALAL SILK MILLS COMPOUND ,
                               LBS MARG , BHANDUP (WEST) , Mumbai ,
                               Maharashtra – 400078
                               Phone: 25960320 (9 Lines)
                               Fax: 25960328 - 29

Listed at : BSE, NSE

Object of the issue

To finance the cost of expansion of the facilities in Chennai. - To finance the cost of setting up of Quality Assurance Center and Marketing office in Mumbai - To set up a subsidiary in the United Kingdom and United States of America - To meet the requirements of the general corporate purposes - To meet the issue expenses

Our company plans to expand its market share by way of expansion of the facilities of its existing services and also going in for new verticals. The issue proceeds would also be utilized for setting up of marketing offices in UK and USA which would be 100% subsidiaries of Vishal and also marketing office in Mumbai. The details of the existing capacity and the future capacity after the proposed expansion are as tabled below:

Services Present seating Proposed seating capacity Capacity

Data digitalization 250 450 E-publishing 150 250 Digital Library 75 100 The fund requirements and intended use of the Proceeds as described therein are based on management estimates and our current business plan. Our management, in response to the competitive and dynamic nature of the industry, may require to revise the business plan from time to time depending on our expenditure fund requirements and external factors which may be beyond the control of our management. Consequently our funding requirement and deployment of funds may change. This may include rescheduling the proposed utilization of the Proceeds and increasing or decreasing expenditure for a particular object vis-…-vis the utilization of the Proceeds. Such decisions would be taken by our Board. In case of variations in the actual utilization of funds earmarked for the purposes set forth, increased fund requirements for a particular purpose may be financed by surplus funds, which are available, for other purposes as indicated below. If surplus funds are unavailable, the required financing will be through our internal accruals and/or debt.

The main object clause of our Memorandum of Association and objects incidental or ancillary to the main objects enable us to undertake our existing activities and the activities for which funds are being raised by us through this Fresh Issue.
Promoted by
Mr. G.S. Chandrashekar, aged 55 years is a Chartered Accountant by qualification. He has worked with Apte Group of companies for about 11 years as Vice President (Finance) and has worked on several turnkey projects as a financial consultant. He is Chairman & Managing Director of Tutis Technologies Ltd. (formerly known as: Amex Information Technologies Ltd.) the holding company of Vishal Information Technologies Ltd.

Driving license no. : 83CO18294 PAN No: ACCPG6727C

Mr. Aniket Jathar, aged 44 years, holds a post graduate diploma in Software Technology and Computing Techniques (PGDST) from NCSDCT and has an experience of 15 years in the Software Development business. He has contributed his best to the growth and development in software department of Tutis. His responsibilities include formulation of software, providing solutions and services to the clients, research and development in software and providing trainings to the employees in the software department of Tutis.

Driving license no. : MH04/95/19231 PAN No: AAEPJ5340C