IPO Of Prakash Steelage Gets Subscribed 1 23 Times (06-Aug-2010)
Prakash Steelage‘s Initial Public Offering (IPO) of 62.5 lakh equity shares which opened for subscription in a price band Rs 110-110 per equity share has been subscribed 1.23 times on the day two of its subscription. It has received bids for 7706700 shares against the issue size of 6250000 shares, 2407440 bids have been received at the cut off price, as per the data available on NSE website at 17.00 pm.
The issue opened for subscription on August 5, 2010 and will close on August 9, 2010 for QIB bidders and August 10, 2010 for retail investors. The issue will constitute 35.71% of the post issue paid-up capital. Upto 1 lakh equity shares will be reserved in the issue for subscription by eligible employees. Keynote Capital is the book running lead manager for the issue.
The objects of the issue are to raise resources to part finance its expansion plan at the company’s existing manufacturing facility at Umbergaon, Gujarat and also to meet the additional working capital requirement.
Prakash Steelage is engaged in the manufacturing of seamless and welded stainless steel pipes, tubes and U-tubes.
Top News Today
 Godrej Properties, Mumbai based real estate developer launched its new residential project Godrej Alpine in Mangalore. It aims to complete 499-apartment Godrej Alpine for occupation in 36 months. Godrej
 Mahindra & Mahindra, auto major has stopped the second phase of booking for its latest sports utility vehicle XUV500. It has received over 25,000 orders in a period of 10 days from January 25 to February
 Reliance Power, the Anil Ambani group company's 2,400-MW Samalkot plant in Andhra Pradesh is likely to be ready for electricity generation this fiscal. It will install six gas turbines at the plant having
|
International Stock News
 The US markets rose on Monday, sending the Dow industrials to their highest close since 2008, as Greece's government made progress on measures to secure international aid. Also, a Labor Department report
 The US markets made a mix closing on Thursday, as a drop in jobless claims fueled optimism about the economy and investors looked to the next day's employment report as the next indicator of the economic
 The US markets made a mixed closing on Tuesday, with the indices mostly slipping after US economic data failed to live up to expectation. The reports showed that American consumer confidence trailed estimates
|
|
|