Public issue of 50,04,000 equity shares of face value of Rs. 10/- each (equity shares) of IRIS Business Services Limited (the company or the issuer) for cash at a price of Rs. 32/- per equity share, including a share Premium of Rs. 22/- per equity share (the issue price), aggregating Rs. 16.01 Crores (the issue), of which 2,60,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 32/- per equity share, aggregating Rs. 0.83 Crores will be reserved for subscription by the market maker to the issue (the market maker Reservation portion) the issue less market maker reservation i.e. Issue of 47,44,000 equity shares of faceValue of Rs. 10 each for cash at a price of Rs. 32/- per equity share, aggregating Rs. 15.18 Crores is hereinafter Refered to as the net issue. The issue and the net issue will constitute 26.51% and 25.13% respectively of the Fully diluted post issue paid up equity share capital of the company.The face value of the equity shares is Rs. 10 each and the issue price of Rs. 32 is 3.2 times of the face value of the equity shares.