Raigad based Sudar Garments Limited has informed the share market (BSE/NSE) that the shares of its recent IPO will list on 11th Mar 2011. The IPO was open between 21st Feb 2011 to 24th Feb 2011. The price band was Rs 72 to Rs 77 and the Issue Price was fixed at the upper level of price band, Rs 77 per equity share. The company had entered into primary market with an Initial Public Offer (IPO) of Rs 69.98 Crore. Sudar Garments Limited is a leading manufacturer and exporter for readymade garments specialized in elegant Shirts, Trousers and wide range of apparel for Men, Women & Kids. The company is presently manufacture under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’.
IPO Listing Detail :-
Listing Date: 11th Mar 2011
BSE Scrip Code : 533332
NSE Symbol : SUDAR
Listing In : ‘B’ Group of Securities
ISIN : INE384L01017
Issue Price : Rs. 77.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share
The proceeds of the IPO are proposed to be utilized for Expansion of the existing apparel manufacturing unit, meeting working capital requirement, setting up retail outlets and brand building, meeting general corporate expensesand meeting the issue 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 (BRLM) to the offer is Ashika Capital Limited.
Registrar of the Issue : Link Intime India Private Ltd, Mumbai.
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