Vaswani Industries IPO : Opening on 29th Apr 2011

by khalid on 25/04/2011 · 0 comments

Chhattisgarh based Vaswani Industries Limited is entering into primary market with an Initial Public Offer (IPO) of 10,000,000 Equity Shares of Rs 10 each. The IPO is opening on 29th Apr 2011 and the shares will be available for subscription up to 3rd May 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 45 – Rs 49 Per Equity Share. The company is likely to raise around Rs 49.00 Crore through the issue at the upper level of price band. 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.

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).

Issue Detail:-
Issue Open : 29th Apr 2011 – 3rd May 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 10,000,000 Equity Shares of Rs 10 each
Issue Size : Rs 45.00 – 49.00 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 45 – Rs 49 Per Equity Share
Minimum Bid Quantity : 120 Shares (Rs. 5880 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 4080 Shares (Rs. 199920 with 34 Lots ) @ upper level of price band
Listing At : BSE, NSE

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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