Servalakshmi Paper IPO : Opening on 27th Apr 2011

by khalid on 13/04/2011 · 0 comments

Tamil Nadu based Servalakshmi Paper Limited is entering into primary market with an Initial Public Offer (IPO) of 22,222,222 Equity Shares of Rs 10 each. The IPO is opening on 27th Apr 2011 and the shares will be available for subscription up to 29th Apr 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 27 – Rs.29 Per Equity Share. The company is likely to raise around Rs Crore through the issue at the upper level of price band. Servalakshmi Paper Limited is engaged in the business of manufacturing printing and writing paper and newsprint.

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).

Issue Detail:-
Issue Open : 27th Apr 2011 – 29th Apr 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 22,222,222 Equity Shares of Rs 10 each
Issue Size : Rs 60 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 27 – Rs. 29 Per Equity Share
Minimum Bid Quantity : 200 Shares (Rs. 5800 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 6800 Shares (Rs. 197200 with 34 Lots ) @ upper level of price band
Listing At : BSE, 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).

Stay tuned to BelltheBull Blog for more on Servalakshmi Paper IPO !

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