ElectroSteel Integrated IPO : Opening on 21st Sep 2010

by khalid on 21/09/2010 · 0 comments

ElectroSteel Integrated is a subsidiary of Electrosteel Groupis and in the business of manufacturing Cast Iron pipes for over four decades. The IPO is opening on 21st Sep 2010 and the shares will be available for subscription up to 24th Sep 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.10 – Rs.11 per Equity Share. The company want to raise money from primary market with this IPO to setting up the proposed plant near Siyaljori village in Bokaro District of Jharkhand.

The proceeds of this IPO will be used to part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India, 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).

Issue Detail:-
Issue Open : 21st Sep 2010 – 24th Sep 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 225,516,188 Equity Shares of Rs 10 each
Issue Size : Rs. 225.52 – 248.07 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs.10 – Rs.11 Per Equity Share
Market Lot : 600 Shares
Minimum Order Quantity : 600 Shares
Listing At : BSE, NSE

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

Registrar of the Issue is Karvy Computershare Private Limited.

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