Innoventive Industries Limited has informed the share market (BSE/NSE) that the shares of its recent IPO will list on 13th May 2011. The IPO was open between 26th Apr 2011 to 29th Apr 2011. The price band was Rs 117 to Rs 120 and the Issue Price was fixed at the lower level of price band, Rs 117 per equity share. The company had entered into primary market with an Initial Public Offer (IPO) of Rs. 219.58 Crore. Innoventive Industries Limited is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products. Its products meet stringent requirements of Surface Finish, Wall Thickness, Dimension Tolerance and Mechanical Properties required by discerning global customers.
IPO Listing Detail :-
Listing Date: 13th May 2011
BSE Scrip Code : 533402
NSE Symbol : INNOIND
Listing In : ‘B’ Group of Securities
Issue Price : Rs. 117.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share
The proceeds of the IPO are proposed to be utilized for capacity expansion of manufacturing facility with Rs 163.06 crore and repayment of term loans worth Rs 50 crore.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book Running Lead Managers (BRLM) to the offer are Axis Bank Limited and Avendus Capital Private Limited.
Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.
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