MT Educare Limited is entering into primary market with an Initial Public Offering (IPO) of —– Equity Shares of Rs 10 each. The IPO is opening on 27th March 2012 and the shares will be available for subscription up to 29th March 2012. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed as Rs 74 – Rs 80 Per Equity Share. The company is likely to raise around Rs 35 Crore through the issue at the upper level of price band. MT Educare Limited is a coaching providing company stablished by Mr Mahesh R. Shetty and having presense in almost all over India. They help students to build their academic records in the level of secondary and higher secondary level. They also help students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
The proceed of IPO would be used to part financing the cost of construction of a PUC campus in Karnataka, establishing new Coaching Centres at 20 locations and general corporate purposes.
IPO (Initial Public Offering) Summary :-
IPO Opens : 27th March 2012
IPO Closes : 29th March 2012
IPO Type : 100% Book Built Issue IPO
IPO Size : —– Equity Shares of Rs 10 each
IPO Size : Rs 35 Crore
Face Value : Rs 10 Per Equity Share
IPO Price Band : Rs 74 – Rs 80 Per Equity Share
Minimum Bid Quantity : — Shares
Listing At : BSE, NSE
The Sole Book running lead manager (BRLM) to the issue are Enam Securities Private Limited.
Registrar of the Issue : Link Intime India Private Limited Mumbai.
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