Financial Daily from THE HINDU group of publications
Friday, Feb 25, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 25, 2005 |
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Markets
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IPOs Emami files for public issue Our Bureau
Mumbai , Feb. 24 EMAMI Ltd has filed its prospectus with the Registrar of Companies, West Bengal, ahead of its forthcoming public issue. "The company has opted for the 100 per cent book-building method for efficient price discovery. The price band has been fixed at Rs 60 to Rs 70 per a share of face value of Rs 2," an official statement said. According to it, the issue would constitute 50 lakh shares, which works out to 8.18 per cent of the fully diluted post-issue paid-up capital of the company. Emami will list the shares on the BSE and the Kolkata Stock Exchange. The post-issue paid-up capital of Emami will be Rs 12.23 crore. The public offer proceeds would be used for general corporate purposes including strategic initiatives and acquisitions. Up to 10 per cent of the issue is reserved for employees while up to 50 per cent of the net issue is reserved for qualified institutional buyers on a discretionary basis. Not less than 25 per cent of the net issue shall be available for allocation on a proportional basis to non-institutional bidders or HNIs, while not less than 25 per cent of the net issue shall be available on a proportionate basis to retail bidders. Anand Rathi Securities Pvt Ltd and ICICI Securities Ltd are the book running lead managers, the statement said.
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