Aster Silicates Ltd IPO : Opening on 24th Jun 2010

by khalid on 21/06/2010 · 1 comment

Aster Silicates Ltd is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 53.10 Crore. The IPO is opening on 24th Jun 2010 and the shares will be available for subscription up to 28th Jun 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed by the company as Rs 112 at the lower level and Rs 118 at the upper level.

The proceeds of the IPO will be used for expansion of manufacturing facilities, to meet additional working capital requirements and and to meet Issue expenses.

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

Issue Detail:-
Issue Open : 24th Jun 2010 – 28th Jun 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : —- Equity Shares of Rs 10 each
Issue Size : Rs. 53.10 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 112 – Rs.118 Per Equity Share
Market Lot : 50 Shares
Minimum Order Quantity : 50 Shares
Listing At : BSE, NSE

Book running lead managers to the issue is Saffron Capital Advisors Private Limited.

Registrar of the Issue Sharepro Services Private Limited, Mumbai.

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