Hyderabad, Mar 7th. GSS America Infotech Ltd. got listed at its issue price of Rs 400 and Rs. 380 on the Bombay Stock Exchange and on the National Stock Exchange, respectively. Living up to the investor confidence, the company's share was surged to a high of Rs 540 on NSE and 508.4 on BSE before closing the day at Rs 500.4, with 25.16% premium over its issue price of Rs 400. The stock remained in the limelight through the day despite severe correction in markets on Friday.

This is the second time that GSS America has defied the trend. Earlier, when the IPO was open between February 11 and 15, the issue was fully subscribed displaying that investors still have confidence in quality Issues. The GSS issue was subscribed 1.08 times, breaking the trend of withdrawal of IPOs by some leading corporates.

GSS America Infotech Ltd., a total IT solution provider, specializing in IT Infrastructure Management, Enterprise Application Integration and IT consulting, has recently won the "Excellence Award" from Institute of Economic Studies and its CEO and Managing Director Bhargav Marepally has been awarded with "Udyog Rattan Award".

GSS America had entered the capital markets on 11th February 2008 with a public issue of 34,97,495 Equity shares of Rs.10 each through 100% book building process in the price band of Rs.400/- to Rs.440/-. The net issue to public was 25.11% of the post issue paid up capital of the company.

IL&FS Trust Company Ltd. A/c IL&FS Pvt Equity Trust-Tara India Fund-III, a venture capital fund registered with SEBI holds 12.77% stake, Kubera Cross-Border Fund (Mauritius) Ltd holds 10.20% stake and Minivet Ltd holds 3.57% stake in the pre-Issue paid up capital of the Company.

GSS America also plans to acquire/establish facilities in Europe, Middle East and Far East. Initially, these facilities will look after the implementation and support functions for the products and eventually they will be independently looking after the marketing functions of the Company in their respective regions. The Company has already acquired office space at Dubai Internet City in Dubai, United Arab Emirates. The Company also intends to utilize funds for Acquisitions. It is a key component of its strategy to grow through acquisitions and strategic partnerships.