Gujarat based Modern Tube Industries Limited is entering into primary market with an Initial Public Offering (IPO) of —- Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is likely to raise around Rs 65 Crore through the issue from existing equity shareholders of the company. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has yet to be decided. The price band would be decided by the company later on.
The company plans to utilize the proposed IPO funds for expansion of its existing manufacturing facility at Por, Gujarat, for working capital requirements and for other 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).
IPO Summary :-
IPO Open : –
IPO Type : 100% Book Built Issue IPO
IPO Size : —– Equity Shares of Rs 10 each
IPO Size : Rs 65 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs – Rs Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Sole Book running lead manager (BRLM) to the issue is Aryaman Financial Services Limited.
Registrar of the Issue : Link Intime (India) Limited, Mumbai
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