Gyscoal Alloys IPO : Finally subscribed 8.59 times

by khalid on 17/10/2010 · 0 comments

The IPO of Gyscoal Alloys Limited (GAL) has received a relatively good response from the investors with the final over-subscription figure reached to 8.59 times on an overall basis. Gyscoal Alloys IPO was open between 13th Oct 2010 and 15th Oct 2010 for subscription.The IPO has managed to get a especially better response from Non Institutional Investors Category where it overbid by 33.44 times on the final day of subscription. The price band for the issue was Rs 65 at lower level and Rs 71 at upper level. Gyscoal Alloys Limited (GAL) is in the business of trading of iron & steel products and manufacturer of stainless steel products.

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

Qualified Institutional Buyers (QIBs) : 1.54 times
Non Institutional Investors : 33.44 times
Retail Individual Investors : 8.00 times
Overall : 8.59 times

The proceeds of this IPO will be used for finance capital expenditure, for enhancing production, to meet the long term working capital requirements and to meet general corporate purpose.

Ratings agency CARE has given it an IPO Grade of “2” on a scale of “5”.

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 Chartered Capital and Investment Limited.

Registrar of the Issue : Link Intime India Private Ltd. Mumbai.

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: