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Our Bureau

Mumbai , Dec. 28

Nitin Fire Protection Industries Ltd has filed its draft red herring prospectus with SEBI to enter the capital market with an initial public offering of 38.5 lakh equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book building process.

The net offer to the public would be 37 lakh equity shares, 1 lakhbeing reserved for employees of the company. The net issue will constitute 29.37 per cent of the post-issue paid-up capital of the company.

Of the net issue to public, up to 50 per cent shall be reserved for allotment to qualified institutional bidders, of which 5 per cent shall be reserved for allotment to mutual funds; 15 per cent shall be reserved for allocation to non-institutional bidders and 35 per cent for allocation to retail individual bidders.

Karvy Investor Services Ltd and UTI Securities Ltd are the book running lead managers to the issue.

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