Servalakshmi Paper Limited has informed the share market (BSE/NSE) that the shares of its recent IPO will list on 12th May 2011. The IPO was open between 27th Apr 2011 to 29th Apr 2011. The price band was Rs 27 to Rs 29 and the Issue Price was fixed at the upper level of price band, Rs 29 per equity share. The company had entered into primary market with an Initial Public Offer (IPO) of Rs. 60.00 Crore. Servalakshmi Paper Limited is engaged in the business of manufacturing printing and writing paper and newsprint.
IPO Listing Detail :-
Listing Date: 12th May 2011
BSE Scrip Code : 533401
NSE Symbol : SERVALL
Listing In : ‘B’ Group of Securities
ISIN : INE431L01016
Issue Price : Rs. 29.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share
The proceeds of the IPO are proposed to be utilized for part finance the purchase of equipments for producing value added products which would be around Rs 25 crore, augmenting long term working capital requirement around Rs 30 crore, preliminary & pre operative expenses around Rs 5 crore, to meet the issue expenses and list the equity shares of the company on the stock exchanges.
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 managers to the issue is Keynote Corporate Services and Indian Overseas Bank.
Registrar of the Issue : Link Intime (India).
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