Omnitech InfoSolutions, a global provider of technology services and technology-enabled services, has filed a draft red herring prospectus with Sebi in connection with its proposed initial public offering, IPO. The company proposes to make an initial public offering through a 100% book building issue, as per press release. The total size of the issue is expected to be about Rs 40 crore (Rs 400 million). The company is considering a pre-IPO placement of up to Rs 500 lakh with certain investors.
 
UTI Bank is the book running lead manager to the issue and Intime Spectrum Registry is the registrar to the issue.
 
Net proceeds of the issue will be used to fund acquisition(s), strategic investments, to set up overseas offices for business expansion, to enhance existing facilities and to set up new technology centre(s).