Fineotex Chemical Limited IPO : Opening on 23rd Feb 2011

by khalid on 14/02/2011 · 0 comments

Fineotex Chemical Limited is entering into primary market with an Initial Public Offer (IPO) of 4,211,160 Equity Shares of Rs 10 each. The iPO is opening on 23rd Feb 2011 and the shares will be available for subscription up to 25th Feb 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. 60 – Rs.72 Per Equity Share. The company is likely to raise around Rs 30.32 Crore through the issue at the upper level of price band. Fineotex Chemical Limited is mainly engaged in the business of Specialty Chemicals and Enzymes for various industries like Textile & Garment Industry, Construction Industry, Leather Industry, Water Treatment Industry, Agrochemicals, Adhesives and others.

The proceeds of the IPO are proposed to be utilized for setting up of Manufacturing facility for production of specialty chemicals, setting up of Sales Office in Mumbai, margin money for working capital, meeting public issue expenses and general corporate purpose.

The Promoters of the Company are Surendra Kumar Tibrewala, Sanjay S. Tibrewala, Kanaklata S. Tibrewala and Ritu S. Tibrewala.

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 : 23rd Feb 2010 – 25th Feb 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 4,211,160 Equity Shares of Rs 10 each
Issue Size : Rs 25.27 crore – Rs 30.32 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 60 – Rs. 72 Per Equity Share
Minimum Bid Quantity : 90 Shares (Rs. 6480 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2700 Shares (Rs. 194400 with 30 Lots ) @ upper level of price band
Listing At : BSE, NSE

The Sole Book Running Lead Manager (BRLM) to the offer is Indbank Merchant Banking Services Limited.

Registrar of the Issue : Bigshare Services Pvt. Ltd. Mumbai.

Stay tuned to BelltheBull Blog for more news on Fineotex Chemical Limited IPO !

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