Financial Daily from THE HINDU group of publications
Wednesday, May 24, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 24, 2006 |
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Markets
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IPOs Logistics - IPOs Our Bureau
Mumbai , May 23 Allcargo Global Logistics Ltd, a logistics service provider involved in multi modal transport operations, container freight stations and handling of project cargo, proposes to enter the capital market on June 1 with a public issue of 2,079,000 equity share of Rs 10 each. The price band has been fixed at Rs 625-Rs 725. The issue closes on June 6. The issue will constitute 10.26 per cent of the post issue paid-up capital of the company. While 51,000 equity shares have been reserved for employees, 60 per cent is earmarked for QIBs, of which 5 per cent will be allocated to mutual funds and the rest to QIB bidders including mutual funds. Further, 10 per cent will be available to Non Institutional Bidders and the retail portion will be about 30 per cent. Enam Financial Consultants Pvt Ltd, along with IL&FS Investmart Ltd and Inga Advisors Pvt. Ltd. are the book running lead managers for the issue. Allcargo had posted a net profit of Rs 37 crore on a sale of Rs 204 crore for the first nine months of 2005-06. The company plans to use the proceeds from the issue for setting up of container freight station as well as the prepayment of loans and acquisitions. The company intends to set up CFS/ICD at Chennai, Mundra and the National Capital Region.
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