Pradip Overseas Fixes IPO Price Band (09-Mar-2010)
Pradip Overseas has said that it has fixed the price band of its crore Initial Public Offer (IPO) between Rs 100 and Rs 110 per share.
The issue size will be of 1.06 crore equity shares of Rs 10 each and the IPO opens on opens on 11 of March and will close on 15th of March.
The public issue is based on 100 % book-building process.
At the upper end of price band, the company would be able to raise up to Rs. 116.6 crore, while at the lower end the IPO is valued worth Rs. 106 crore.
As per the DRHP filed in January 2009, promoters' holding in the company will reduce to 68.68% from 93.16% post the issue.
Anand Rathi Advisors is acting as the sole book running lead manager to the offer.
Pradip Overseas plans to use the IPO proceeds to part finance a manufacturing facility in a textile SEZ and partly fund the incremental margin money requirement for working capital.
Pradip Overseas is a textile maker with niche focus on home linen products. The company's existing facility is located at Changodar near Ahmedabad in Gujarat.
Top News Today
 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
 CMI FPE, one of CMI Industry's Indian subsidiaries, has entered into a new agreement with Indian steelmaker Bhushan Steel for the supply of seven major steel processing equipments. All these equipments
 NIIT Technologies, the global IT solutions provider has successfully deployed its cargo operations intelligent system (COSYS), a complete cargo management platform, to manage cargo handling operations
|
International Stock News
 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
 The US markets closed lower on Monday, as leaders in Europe gather to discuss the debt crisis for the seventeenth time in two years and tensions remained high with Portugal’s soaring borrowing costs. On
|
|
|