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Hello Karthik,
You'll want to post traffic stats, number of visitors, number of hits, average time of user on your site, what the VPS will be used for, and the type of community along with any demographics which will help advertisers.
Also, additional items such as how much space, bandwidth and memory are required on the VPS etc.
If I go to a car dealership and tell him "I want a car" but don't qualify what type or what I plan to do with it, if he showed me a Mini and I needed to haul tools in a truck, we'd have a problem.
A little more information on the sponsorship opportunity will help all members get an idea of what they are getting into.
One final item is that you'll want to post any terms, how long you want the VPS for free, and if you are willing to pay a portion of it at all.
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