Gallantt Ispat Ltd IPO : Opening on 22nd Sep 2010

by khalid on 18/09/2010 · 1 comment

Gallantt Ispat Ltd is engaged in manufacturing sponge iron, M S billets, re-rolled products (TMT bars) and wheat flour products. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 40.50 crore. The IPO is opening on 22nd Sep 2010 and the shares will be available for subscription up to 24th Sep 2010. This IPO is a fixed price issue and the price for the issue has been fixed at Rs.50 Per Equity Share. The company want to raise money from primary market with this IPO to expand power generation capacity to 1000 MW in two years.

The proceeds of this IPO will be used to finance the construction and development of four biomass projects, funding their Subsidiaries OGP Rajasthan, biomass power project in Kishanganj and Beta Wind Farms Private Ltd in Tamil Nadu, repayment of existing debt 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).

Issue Detail:-
Issue Open : 22nd Sep 2010 – 24th Sep 2010
Issue Type : Fixed Price Issue IPO
Issue Size : 8,100,000 Equity Shares of Rs 10 each
Issue Size : Rs. 40.50 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs.50 Per Equity Share
Market Lot : 125 Shares
Minimum Order Quantity : 125 Shares
Listing At : BSE, NSE

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

Registrar of the Issue : Niche Technologies Pvt. Ltd, Kolkata

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