Bajaj Corp to enter into the capital market with an IPO of 45 00 000 equity shares (01-Aug-2010)
Indian-Commodity : Ipo : Bajaj Corp to enter into the capital market with an IPO of 45 00 000 equity shares
Bajaj Corp is going to enter into the capital market with an initial public offering (IPO) of 45,00,000 equity shares of Rs 5 each in a price band Rs 630-660 per equity share. The issue will open on August 2, 2010 and will close on August 5, 2010. The issue, which will be through a 100% book building process, will constitute 15.30% of the post-issue paid-up equity capital of the company. The shares will be listed on BSE as well as NSE.
The Book running lead managers to the issue are Kotak Mahindra Capital Company.
Up to 60% of the issue will be allocated to Qualified Institutional Buyers (QIBs), including 5% to the mutual funds. Further, 10% would be available for the non-institutional bidders and the remaining 30% for the retail investors.
The company plans to utilize the proceeds for promoting their future products, Acquisitions and other strategic initiatives and for General Corporate Purposes.
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