Bedmutha Industries IPO : Finally subscribed 7.69 times

by khalid on 05/10/2010 · 0 comments

Bedmutha Industries is one of the leading steel wire manufacturers in western India. The IPO of Bedmutha Industries Limited has received a so-so response from the investors with the final over-subscription figure reached to 7.69 times on an overall basis. Bedmutha Industries IPO was open on 28th Sep 2010 and get closed on 1st Oct 2010 for subscription.The IPO has managed to garner a good response from Non Institutional Investors Category where it overbid by 29.19 times on the final day of subscription.

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

Qualified Institutional Buyers (QIBs) : 0.67 times
Non Institutional Investors : 29.19 times
Retail Individual Investors : 8.51 times
Overall : 7.69 times

The IPO proceeds would be used for setting up of new plant at Sinnar, Nashik for manufacturing of new product Low Relaxation Pre-Stress Concrete (LRPC) Wire and Spring Steel Wire,general corporate purposes and issue expenses.

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

Book running lead managers to the issue are . Ashika Capital Ltd and Keynote Corporate Services Ltd.

Registrar of the Issue : Mondkar Computers Private Limited , Mumbai.

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