Bharatiya Global Infomedia Limited is entering into primary market with an Initial Public Offering (IPO) of 6,720,000 Equity Shares of Rs 10 each. The IPO is opening on 11th July 2011 and the shares will be available for subscription up to 14th July 2011. 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 75 – Rs. 82 Per Equity Share. The company is likely to raise around Rs 55.10 Crore through the issue at the upper level of price band. Bharatiya Global Infomedia Limited (BGIL) is in the business of Information Technology Based Solutions-RFID & Smart Card and Digital Post Production Studio.
The proceeds of the IPO are proposed to be utilized for setting up of Corporate office at Noida & Branch Office at Mumbai, upgradation of Digital Post Production Studio and Investment in IT division, expansion of R&D technology centre, repayment of bank borrowings, meeting long term working capital requirements, general corporate purposes and IPO expenses.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : 11th July 2011 – 14th July 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 6,720,000 Equity Shares of Rs 10 each
IPO Size : Rs 50.40 – 55.10 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 75 – Rs 82 Per Equity Share
Minimum Bid Quantity : 75 Shares (Rs. 6150 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2400 Shares (Rs. 196800 with 32 Lots ) @ upper level of price band
Listing At : BSE, NSE
The Sole Book running lead manager (BRLM) to the issue is Almondz Global Securities Limited.
Registrar of the Issue : Karvy Computershare Private Limited.
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