Onelife Capital Advisors' IPO Subscribed 1.53 Times (05-Oct-2011)
Onelife Capital Advisors, a financial service provider, initial public offer (IPO) was subscribed 1.53 times on Tuesday, October 04, 2011. As per the data available with the NSE, total bid of 5110400 shares were received for the issue of 3350000 shares, 2581500 bids were received at the cut-off price.
The 100% book building issue closed on October 04, 2011. The company had fixed price band Rs 100 to Rs 110. Atherstone Capital Markets is the book running lead manager and Sharepro Services (India) is the registrar to the issue.
The company intends to utilize the issue proceeds to purchase corporate office at Mumbai, development of portfolio management services, brand building activities and general corporate purposes.
Onelife Capital Advisors, incorporated in 2007, is engaged in offering Investment Banking services and venturing into Portfolio Management and Equity Broking services. The company was converted into Public Limited in 2010. It is a SEBI registered Category I merchant banker and has recently secured license to do business in equity broking by getting approval from Bombay Stock Exchange. It has also received license from SEBI for Portfolio Management Services.
The financial service company currently offers services like Initial Public Offerings, Rights Issue, Buyback of Shares, Follow on Public Offering, Qualified Institutional Placements, Open Offers and other Equity Linked Financing.
Onelife Capital Advisors is primarily focusing on investment banking operations, including merchant banking. Although it has received license for --Brokerage and Clearing member, but it is yet to commence this services.
At present it is assisting small sized companies which are operating in sectors like Oral Care, Packaging, Oil and Gas, Water Purification, Ferrous Alloy, Sponge Iron, Metal Recycling, Digital Marketing and Glass manufacturing. As per its Red Herring Prospectus, Onelife Capital Advisors has signed nine mandates for fund raising through IPO, and two mandates for Joint Venture, as on July 15, 2011.
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