Actor Chitrangada Singh launched ItzGift by prepaid card company Itz Cash Card Ltd., at FHM Cover Success Party at popular suburban nightspot Escobar in Mumbai.

The launch party witnessed the who's who of the Mumbai party circuit in attendance. The ravishing Shama Sikander and Karishma Tanna were seen enjoying the celebrations at the party.

Also seen at the party was Vindu Dara Singh. Designer AD Singh walked in with wife Puneet while Apurva Agnihotri was accompanied by wife Shilpa.

ItzGift presents an array of products which include gift cards and vouchers of leading retail brands across varied categories such as lifestyle, shopping, dining, entertainment and a lot more.

Naveen Surya, Managing Director, Itz Cash Card Ltd., said "Gifting is an emotional bond. ItzCash brings to you ItzGift, which constantly strives to provide innovation and unlimited choice to the end users."

Looking to tap the estimated US$ 30 billion a year gift market in India ItzGift said it aims to also evolutionise incentive, reward and recognition programs for corporate and SME which offer choice and flexibility through a wide array of card brands and custom designed options.

According to Global Prepaid Exchange, the market for prepaid gift cards and vouchers in India is sized at $403.8 million in 2011, with a 30% growth rate.