Common shares offered by company

 4,400,000 shares

Common shares to be outstanding immediately after this offering

22,826,867 shares

The underwriters have an option  to purchase up to an additional 660,000 common shares to cover over-allotments at the initial public offering price.

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Proceeds

Estimate net proceeds to company from this offering will be approximately US$57 million, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by company. A $1.00 increase (decrease) in the assumed initial public offering price of US$15.00 per share would increase (decrease) the net proceeds from this offering by approximately US$4.1 million, assuming that the number of shares offered by company remains the same.

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Use of proceeds

• To construct and build out a facility on its planed campus in Hyderabad. (nearly $30 million)

• For working capital and general corporate purposes.

• For expansion in new geographies.

• For expansion of existing facilities.

• To fund any suitable acquisition or investment, although company has no current commitments or understandings to make any such acquisition or investment

Pending such uses, company may invest the net proceeds from this offering in short-term investments. 

Company will not receive any of the proceeds from the sale of shares by the selling shareholders.

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The number of ordinary shares to be outstanding after this offering excludes:

• 3,211,458 shares of common stock issuable upon the exercise of share options outstanding as of March 13, 2007.

• 196,241 shares of common stock issuable after this offering upon exercise of stock appreciation right outstanding as of March 31, 2007

• 700,940 shares of common stock reserved as of March 31, 2007 for future issuance under its incentive plans.

• 37,342 shares of common stock issuable upon the exercise of warrants that remain outstanding after this offering.