Sudar Garments IPO : Opening on 21st Feb 2011

by khalid on 15/02/2011 · 0 comments

Raigad based Sudar Garments Limited is entering into primary market with an Initial Public Offer (IPO) of 9,088,000 Equity Shares of Rs 10 each. The iPO is opening on 21st Feb 2011 and the shares will be available for subscription up to 24th Feb 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. It will be updated here as soon as it is available. 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’.

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 Promoter of the Company is Mr. Murugan Muthiah Thevar.

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 : 21st Feb 2010 – 24th Feb 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 9,088,000 Equity Shares of Rs 10 each
Issue Size : Rs 65.43 crore – Rs 69.98 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 72 – Rs. 77 Per Equity Share
Minimum Bid Quantity : 81 Shares (Rs. 6237 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2592 Shares (Rs. 199584 with 32 Lots ) @ upper level of price band
Listing At : BSE, 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.

Stay tuned to BelltheBull Blog for more news on Sudar Garments IPO !

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