Bedmutha Industries IPO : Opening on 28th Sep 2010

by khalid on 25/09/2010 · 0 comments

Nashik based Bedmutha Industries is one of the leading steel wire manufacturers in western India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 92 crores. The IPO is opening on 28ht Sep 2010 and the shares will be available for subscription up to 1st Oct 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 95 at the lower level and Rs 102 at the upper level.

The proceeds of this IPO will be used to 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.

Promoters of the company are Mr. Kachardas Ratanchand Bedmutha, Mr. Ajay Kachardas Vedmutha, Mr. Vijay Kachardas Vedmutha, Mrs. Usha Vijay Vedmutha and Bedmutha Sons Realty Ventures Private Limited.

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

Issue Detail:-
Issue Open : 28th Sep 2010 – 1st Oct 2010
Issue Type : 100% Book Building Issue
Issue Size : 9,000,000 Equity Shares of Rs 10 each
Issue Size : Rs. 85.50 – 91.80 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 95 – Rs. 102 Per Equity Share
Market Lot : 65 Shares
Minimum Order Quantity : 65 Shares
Listing At : BSE, NSE

The 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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