Gravita India Limited IPO : Finally subscribed 42.88 times

by khalid on 03/11/2010 · 3 comments

The IPO of Gravita India Limited (GIL) has received a good response from the investors with the final over-subscription figure reached to 42.88 times on an overall basis. Gravita India Limited IPO was open on 1st Nov 2010 and get closed on 3rd Nov 2010 for subscription. The IPO has managed to get a especially better response from Non Institutional Investors Category where it overbid by 182.52 times on the final day of subscription. The price band for the issue was Rs 120 at lower level and Rs 125 at upper level. Gravita India Limited (GIL) is in the business of manufacturing of Lead Metal by Recycling & Smelting process & other lead products. Gravita India Ltd is flagship Company of the Gravita Group which was established in the year 1992 and has manufacturing set up at Jaipur.

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

Qualified Institutional Buyers (QIBs) : 6.04 times
Non Institutional Investors : 182.52 times
Retail Individual Investors : 37.34 times
Employee Reservations : 1.17 times
Overall : 42.88 times

The IPO proceeds would be used to set up additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra in India, to invest in overseas ventures at Sri Lanka- Navam Lanka Ltd, Senegal – Pagrik Senegal SA-Honduras-Gravita Honduras SA, to invest in setting up manufacturing facilities at Australia, Belarus, Chile and Mexico, to provide margin money for working capital requirement, for general corporate purposes, to meet the expenses of the issue and to list the equity shares on the Stock.

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 Keynote Corporate Services Limited.

Registrar of the Issue : Karvy Computershare Private Limited Hyderabad.

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vaibhav November 15, 2010

Hi khalid ,
any views about Gravita allotment for Retail investors …

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khalid November 22, 2010

Hi Vaibhav

Retail investors have subscribed 37.34 times and the lucky allot tees have made a good profit on the listing day as issue settled at 66% on debut.

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