Visesh Infotecnics closes its maiden issue on Singapore stock exchange

New Delhi: Delhi-based, global IT solutions company, Visesh Infotecnics has
successfully closed its maiden global depository receipts (GDR) offering of US
$10,000,000 on the Singapore stock exchange (SGX). The company had opened its
GDR issue on the SGX on Monday, the 3rd of December, 2007 through its offering
circular putting on offer 4,654,762 global depositary receipts representing
9,309,524 equity shares having par value Rs.10 at an offer price of US$ 2.148
per GDR. In-principle, approval for the listing of the GDRs on the Singapore
Exchange Securities Trading Limited (the "SGX-ST") had been received
by the Company, earlier last month. The GDR issue was lead managed by Hythe
Securities (UK) and the global coordinators for the issue were Global Absolute
Capital Advisors(India).

It may be recalled that the shareholders of the company, at the extraordinary
general meeting held on the 27th February 2007, had approved issue/allotment of
foreign currency convertible bond/American depository bond/global depository
bond convertible into equity shares/preference shares at the option of the
company and /or at the option of holder of the security up to US $10 million
(ten million US dollars) to be subscribed by foreign investors/institutions and
/ as or corporate bodies, mutual funds, banks at such price as the board in its
absolute discretion deemed fit, in compliance with all applicable laws.