A2Z Maintenance & Engineering IPO : Finally subscribed 0.96 times

by khalid on 11/12/2010 · 0 comments

The IPO of A2Z Maintenance & Engineering Limited has failed to subscribe fully and received a minimal response from the investors with the final over-subscription figure reached to just 0.96 times on an overall basis. A2Z Maintenance & Engineering IPO was open on 8th Dec 2010 and get closed on 10th Dec 2010 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 3.12 times on the final day of subscription. The price band for the issue was Rs 400 at lower level and Rs 410 at upper level. A2Z Maintenance & Engineering Services is a Gurgaon-based engineering and construction company. Started in 2002 as a facility management services company, A2Z has evolved into an engineering, procurement and construction services provider to the power transmission and distribution companies.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 0.68 times
Non Institutional Investors : 3.12 times
Retail Individual Investors : 0.33 times
Employee Reservations : 0.32 times
Overall : 0.96 times

The proceeds of the public issue are proposed to be utilized to fund the company’s several projects across the renewable energy and waste management. The company diversified itself into waste management and plans to scale up this business after the IPO.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Book running lead managers to the issue are DSP Merrill Lynch Limited, Enam Securities Private Limited, ICICI Securities Limited, IDFC-SSKI Private Limited, SBI Capital Markets Limited and YES Bank Limited.

Registrar of the Issue : Link Intime India Private Limited, Mumbai.

Stay tuned to BelltheBull Blog for more on A2Z Maintenance & Engineering IPO !

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