Business Daily from THE HINDU group of publications
Thursday, Sep 27, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Sep 27, 2007 ePaper |
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Markets
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IPOs Our Bureau
Mumbai, Sept. 26 The initial public offering of Supreme Infrastructure India Ltd (SIIL), a company engaged in the business of infrastructure development, got subscribed 52.66 times at the closing day of its issue. A total of 18.29 crore bids were received against the 34.75 lakh equity shares on offer across the price band. SIIL had fixed its price band at Rs 95-Rs 108; the company had expected to raise Rs 37.53 crore from the IPO. The company plans to use the proceeds to part-finance their expansion plans and to meet its long-term working capital requirements. They also plan to foray into the construction activity in the real estate projects. The qualified institutional buyers bid a total of 5.31 times, whereas non-institutional investors and retail individual investors bid 3.97 times and 2.35 times respectively. Karvy Investors Services Ltd was the book-running-lead manager and the registrar to the issue was Bigshare Services. SIIL proposes to list itself in both the BSE and the NSE. More Stories on : IPOs
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