Vaswani Industries IPO : Listing on 18th May 2011

by khalid on 17/05/2011 · 2 comments

Vaswani Industries Limited has informed the share market (BSE/NSE) that the shares of its recent IPO will list on 18th May 2011. The IPO was open between 29th Apr 2011 to 3rd May 2011. The price band was Rs 45 to Rs 49 and the Issue Price was fixed at the upper level of price band, Rs 49 per equity share. The company had entered into primary market with an Initial Public Offer (IPO) of Rs. 49.00 Crore. Vaswani Industries Limited is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation. VIL is a part of Vaswani Group of Industries.

IPO Listing Detail :-
Listing Date: 18th May 2011
BSE Scrip Code :
NSE Symbol :
Listing In : ‘B’ Group of Securities
Issue Price : Rs. 49.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

The proceeds of the IPO are proposed to be utilized for finance pre-payment of the term loan, finance long term working capital requirement, general corporate purposes, finance public 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).

Notice :-

SEBI withholds listing of Vaswani Industries IPO

SEBI receives complaints from investors alleging that large number of high net worth investors (HNI) and retail investors had either withdrawn their application or their cheque got cancelled after subscribing heavily during the book building process.

The Vaswani Industries IPO was open BETWEEN 29th April 2011 to 3rd May 2011. On the basis of complaints recieved from investors regarding irregularities in the subscriptions in the said issue. Based on the data received from the exchanges/registrars regarding the subscriptions/withdrawals and preliminary inquiries into the matter, SEBI has advised the stock exchanges to withhold the listing of securities until further instructions. Inquiries in the matter are in progress. Based on the findings, appropriate action would be taken.

The Sole Book running lead managers (BRLM) to the issue is Ashika Capital Limited

Registrar of the Issue : Link Intime (India) Private Limited

Stay tuned to BelltheBull Blog for more on Vaswani Industries IPO !

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