Microsec Financial Services IPO : Opening on 17th Sep 2010

by khalid on 14/09/2010 · 0 comments

Microsec Financial Services Ltd. provides various financial products and services to their target client base of retail investors, high net worth individuals, companies and institutions. The company is a well-recognized brand in eastern India with adequate base of research delivery capabilities. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 147 crore. The IPO is opening on 17th Sep 2010 and the shares will be available for subscription up to 21st Sep 2010. 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 113 at the lower level and Rs 118 at the upper level.

Promoters of the company are Mr. Banwari Lal Mittal and Mr. Ravi Kant Sharma.

The proceeds of this IPO will be used to Expand their Financing business, Expand MCap’s domestic operations by increasing network of branches, Enhance MCap’s existing technological capacity, General corporate purposes; and Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

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 : 17th Sep 2010 – 21st Sep 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 12,500,000 Equity Shares of Rs 10 each
Issue Size : Rs. 141.25 – 147.50 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 113 – Rs. 118 Per Equity Share
Market Lot : 52 Shares
Minimum Order Quantity : 52 Shares
Listing At : BSE, NSE

The sole Book running lead managers to the issue is SBI Capital Markets Limited.

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

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