ElectroSteel Integrated IPO : Listing on 8th Oct 2010

by khalid on 08/10/2010 · 0 comments

EelctroSteel Integrated is a subsidiary of Electrosteel Group and in the business of manufacturing Cast Iron pipes for over four decades. The company had entered the capital market with an initial public offering (IPO) of 225,516,188 Equity Shares of Rs 10 each for cash, at a premium to be decided through a 100% Book Building Process . The company informed the market (BSE) that the shares of its recent IPO will list on 8th Oct 2010. The IPO was open from 21st Sep 2010 to 24th Sep 2010. The price band was Rs 10 to Rs 11 and the Issue Price was fixed at the upper level of price band, Rs 11 per equity share.

IPO Listing Detail :-
Listing Date: 8th Oct 2010
BSE Scrip Code : 533264
NSE Symbol : ESL
Listing In : ‘B’ Group of Securities
ISIN : INE481K01013
Issue Price : Rs. 11.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

The proceeds of this IPO will be used for part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India, to pay margin money towards Bank Guarantees, general corporate purposes and to create a public market for equity shares by listing securities of Company on Stock Exchanges.

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

Book running lead managers to the issue are Edelweiss Capital Limited, Enam Securities Private Limited and SBI Capital Markets Limited

Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad .

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