IntraSoft Technologies, which owns 123greetings.Com, plans to raise up to Rs 53.65 crore through its Initial Public Offer (IPO) and has fixed its price-band at between Rs 137-Rs 145.
At the lower end of the price-band, the company plans to raise Rs 50.69 crore and at the upper-end, Rs 53.65 crore.
The issue will constitute 25.12 per cent of the post issue paid-up capital of the company.
"The object of the issue is to fund our capex plan. The company intends to spend Rs 13 crore for purchasing of a corporate office at Kolkata and Rs 20.2 crore for branding and promotion activities," IntraSoft Technologies' Managing Director, Arvind Kajaria told reporters here.
The company's website 123greetings is the second-largest electronic greeting cards website in the world with more than 91 million unique visitors, with an average 3,96,910 daily visitors.
It is also the largest electronic greeting cards website in India with a total of more than 15 million unique visitors, Kajaria said.