ARSS Infrastructure IPO : Oversubscribed 47.62 times

by khalid on 14/02/2010 · 0 comments

ARSS Infrastructure is engaged in construction of railway infrastructure, roads, highways, bridges and irrigation projects in India. The company’s IPO was there in market between 8th Feb to 11th Feb 2010 to raise Rs 103 crores. The company has received total bids for 11.96 Crores Equity Shares as against IPO of 25.12 Lakh Equity Shares.

The category-wise subscription details is as under:
QIB: 49.34 times
Non-Institutional Investors: 124.52 times
Retail: 18.54 times
Overall: 47.62 times

The proceeds of the IPO will be used by the company for Investment in joint ventures, Funding long term working capital requirement, General corporate purposes and Public issue expenses. The companies total income was Rs 628.22 crores for the FY09 ended March 09. The profit of the company was Rs 51.18 crores for the same period.

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

Issue Details :-
Issue Period : 8th Feb 2010 – 11th Feb 2010
Issue Type : 100% Book Building process
Issue Size : Rs. 103 Crores
Face Value : Rs. 10 Per Equity Share
Price Range : Rs. 410 – Rs. 450 Per Equity Share
Market Lot : 15 shares
Minimum Order Quantity : 15 shares
Maximum Subscription Amount for Retail Investor : Rs 100000
Listing At : BSE and NSE

Book Running Lead Managers for the IPO are IDBI Capital Market Services Limited and SBI Capital Markets Limited.

Registrar of the Issue :-
Bigshare Services Pvt. Ltd
Bigshare Services Pvt. Ltd.E-2,
Ansa Industrial Estate,Saki-Vihar Road,
Sakinaka,Mumbai – 400 072.

IPO Allotment Details can be seen here later on.

At a time when most of the IPOs are managing 4-5 times subscription, a 47-times demand is good enough, It shows that the investor appetite is still there for the infrastructure sector.

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: