A2Z Maintenance & Engineering IPO : Opening on 8th Dec 2010

by khalid on 08/12/2010 · 0 comments

A2Z Maintenance & Engineering Services Limited is entering into primary market with an Initial Public Offer (IPO) of 16,875,000 Equity Shares of Rs 10 each. The IPO is opening on 8th Dec 2010 and the shares will be available for subscription up to 10th Dec 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been at Rs 400 – Rs. 410 Per Equity Share. The Issue Size is Rs. 675.00 Crores. 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.

Mittal and his family is the founder of the company and hold about 55% stake in the company that will reduce to about 50% after the issue. Rest of the equity is held by Rakesh Jhunjhunwala, Beacon India and India Equity Partners.

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 FPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 8th Dec 2010 – 10th Dec 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 16,875,000 Equity Shares of Rs 10 each
Issue Size : Rs. 675.00 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 400 to Rs. 410 Per Equity Share
Minimum Bid Quantity : 15 Shares (Rs. 6150 with 1 Lot) at upper price band
Maximum Bid Quantity : 480 Shares (Rs. 196800 with 32 Lot) at upper price band
Listing At : BSE, NSE

Retail investors get an additional 5% discount on the final price of the issue.

Maximum Subscription Amount for Retail Investor : Rs. 200000

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 Engineering IPO !

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