Ravikumar Distilleries Ltd IPO : Finally subscribed 2.22 times

by khalid on 11/12/2010 · 0 comments

The IPO of Ravikumar Distilleries Limited has received a minimal response from the investors with the final over-subscription figure reached to just 2.22 times on an overall basis. Ravikumar Distilleries Ltd IPO was open on 8th Dec 2010 and get closed on 10th Dec 2010 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 7.31 times on the final day of subscription. The price band for the issue was Rs 56 at lower level and Rs 64 at upper level. Ravikumar Distilleries Limited is engaged in the business of manufacturing Indian Made Foreign Liquor (IMFL) under its own brand portfolio as well as under tie-up arrangements with other companies. The IMFL comprises of Whisky, Brandy, Rum, Gin and Vodka.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 0.15 times
Non Institutional Investors : 7.31 times
Retail Individual Investors : 3.01 times
Overall : 2.22 times

The proceeds of the public issue are proposed to be utilized to expansion in the unit by inc. in existing capacity, to part finance the marketing & corporate branding, to part finance incremental working capital request and to part finance the general corporate expenses.

The equity shares offered through the IPO 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 is Comfort Securities Pvt Limited.

Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.

Stay tuned to BelltheBull Blog for more on Ravikumar Distilleries Ltd IPO !

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

Stay tuned to BelltheBull Blog for more on A2Z Maintenance & Engineering IPO !

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