Chennai-based Olympic Cards Limited is entering the capital market with its — equity shares of face value of Rs 10 each. The company’s Initial Public offering (IPO) will open on 9th March 2012 and will close on 13th March 2012. The IPO will allot shares in a price band of Rs 30 to 32 per share. The premium of the issue will be decided through a 100% Book Building Process. Applicants need to bid for a minimum of 200 shares and thereafter in multiples of 200 shares. The company is likely to raise around Rs 25.00 Crore through the issue at the upper level of price band. Olympic Cards Limited is the Manufacturer and Supplier of Invitation cards for all occasions. They are one of the leading manufacturers of paper/board based products, with a presence mainly in southern India.
The company will use the Initial Public offering proceeds for Setting up of a new manufacturing unit near Chennai. The company will expaend its capital for establishing four own retail outlets of the Company and to meet the isue expenses.
The equity shares offered through the Initial Public offering (IPO) are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book running lead manager (BRLM) to the issue is Ashika Capital Limited.
Registrar of the Issue : Cameo Corporate Services Limited Chennai.
Bell the bull says : As the CRISIL given a POOR rating to the issue, so be aware and do not apply for IPO.
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