Readymade Steel India 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 Jun 2011 and the shares will be available for subscription up to 29th Jun 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not been fixed yet. The company is likely to raise around Rs 34.75 Crore through the issue at the upper level of price band. Readymade Steel India Limited is in the business of steel service provider to the infrastructure sector. The company provide customised, prefabricated steel for various infrastructure projects
The proceeds of the IPO are proposed to be utilized for part finance the cost of enhancing the capacity at Raigad, Maharashtra and the cost of setting up of new facilities near New Delhi and Raipur, to meet the pre-operative expenses including Issue expenses, to meet margin money requirements of working capital and to meet 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 : 27th Jun 2011 – 29th Jun 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : —-Equity Shares of Rs 10 each
IPO Size : Rs 34.75 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 Arihant Capital Markets Limited.
Registrar of the Issue : Bigshare Services Pvt Limited, Mumbai
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