Business Daily from THE HINDU group of publications
Saturday, May 31, 2008 ePaper | Mobile/PDA Version
|
Business Daily from THE HINDU group of publications Saturday, May 31, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
||
|
Update at 1800 hrs (IST)
Markets Niraj Cements IPO gets fully subscribed MUMBAI: The initial public offer of Niraj Cements and Structurals got fully subscribed on the final day of its offer. The issue received bids for 56.56 lakh shares against 32.50 lakh shares on offer, generating a demand of 1.74 times, data available on the National Stock Exchange showed. The portion reserved for non-institutional investors got subscribed four times, while the portion for retail investors received bids for 3.80 times the shares on offer. The portion reserved for qualified institutional buyers, however, remained un-subscribed. The price band of the issue has been fixed between Rs 175- Rs 190. The issue, which opened on May 26, closed yesterday. The company is planning to raise about Rs 61.75 crore at the upper end of the price-band. The issue comprises a reservation of 3.25 lakh shares for eligible employees and net issue to the public of 29.25 lakh equity shares. The company would use the iss ue proceeds to fund its capital equipment requirement and meet working capital needs. Credit rating firm CARE has assigned a GRADE 1 to the issue. Allbank Finance is acting as the book running lead manager for the issue. The company plans to list itself on the Bombay Stock Exchange. - PTI
Related Stories:
Next: Rupee sharply higher Business Line | NUS Index | |
Related Topics A Ringside View ADR Watch Asset Management Companies Bonus Announcements Buyback Cartoon Chat Commentary Debt Market Derivatives Markets Ear to the ground Economic Offences Financial Markets Financial Services F & O Outlook Foreign Institutional Investors Insight Interview Investment Banking Investments Investor Grievances Investor Protection IPOs Mergers & Acquisitions Mutual Funds Mutual Confidence New Fund Offer Open Offers Outlook Overseas Borrowings Overseas Investments People Preferential Allotments Private Placement Public Offer Recommendation Regulatory Bodies & Rulings Rights Issue Sensor Stock Exchanges Stock Markets Stocks Taxation Technical Analysis Venture Capital |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line
|