Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Markets
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IPOs Logistics - Shipping Dredging Corpn files prospectus with SEBI Our Bureau
Mumbai , Jan. 29 DREDGING Corporation of India (DCI) has filed the prospectus with SEBI on Thursday for its first public offer of 56 lakh shares of Rs 10 each through the book building process. The offer price will be determined on the basis of assessment of the market demand as per the book building process. The offer will constitute 20 per cent of the fully diluted post-offer paid-up capital of the company. According to the prospectus, as the offer is being made through the book building process, 50 per cent of the offer shall be offered on discretionary basis to qualified institutional buyers. This is the first offer of equity shares by DCI to the public. Although the shares are listed, there has been limited public participation in the company's equity share capital in the past.
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