Prakash Steelage Ltd IPO : Finally subscribed 4.53 times

by khalid on 11/08/2010 · 0 comments

Prakash Steelage Ltd is a Mumbai based manufacturers of stainless steel pipes and tubes. The IPO of Prakash Steelage has received a good response from the investors with the final over-subscription figure reached to 4.53 times on an overall basis. Prakash Steelage IPO was open on 5th Aug 2010 and closed on 10th Aug 2010 for subscription.The IPO has managed to garner a good response from Non-Institutional Investors Category where it overbid by 10.91 times on the final day of subscription.

The category-wise subscription status of Prakash Steelage Ltd on closing day is given below:-

QIB : 1.27 Times
Non-Institutional Investors : 10.91 Times
Retail Investors : 6.62 Times
Employee Reservations : 1.02 Times
Overall : 4.53 Times

The proceeds of the IPO will be used to Expansion of existing manufacturing facility at Umbergaon, Gujarat, Meet the additional working capital requirement, General corporate purpose, Meet the issue expenses and List the equity shares of the company on the stock exchanges.

The equity shares of the company 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 will be Keynote Corporate Services Ltd.

Registrar of the Issue : Bigshare Services Pvt. Ltd. Mumbai.

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