Gallantt Ispat Ltd IPO : Finally subscribed 2.89 times

by khalid on 26/09/2010 · 2 comments

Gallantt Ispat Ltd is engaged in manufacturing sponge iron, M S billets, re-rolled products (TMT bars) and wheat flour products. The IPO of Gallantt Ispat Limited has received a nominal response from the investors with the final over-subscription figure reached to 2.89 times on an overall basis. Ramky Infra IPO was open on 21st Sep 2010 and closed on 24th Sep 2010 for subscription.The IPO has managed to garner a good response from Qualified Institutional Buyers (QIBs) Investors Category where it overbid by 4.52 times on the final day of subscription.

The category-wise subscription status of Gallantt Ispat Ltd IPO on closing day is given below:-

QIB : 4.52 Times
Non-Institutional Investors : 1.45 Times
Retail Investors : 0.99 Times
Overall : 2.89 Times

The proceeds of this IPO will be used to investment in capital equipments, meet the working capital requirements, repayment of loans and general corporate purposes.

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

The sole book running lead manager to the issue is Anand Rathi Securities Limited.

Registrar of the Issue is Niche Technologies Pvt. Limited Kolkatta.

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{ 2 comments… read them below or add one }

Ipo master September 27, 2010

A very solid foundation of corner investors which should spur the retail sector!

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khalid October 9, 2010

Have you subscribed for this issue? If so, then share your views here. Thanks

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