Public issue of Jyothy Laboratories has received excellent response, subscribed 44.94 times till 5 pm, according to data available on NSE website.
It got bids for 19.9 crore equity shares as against 44.30 lakh shares on offer and received bids for 1.8 crore shares at cut off price.
The company entered capital market with an initial public offering (IPO) of 44.30 lakh shares of Rs 5 each at a price band between Rs 620 and Rs 690 per equity share.
The company will raise Rs 274 at lower price band and Rs 305.6 crore at higher end of price band.
The offer would constitute 30.52% of the post issue paid up capital of the company. Post issue, Jyothy Labs' promoters stake will remain at 69.47%. Its investors including Canzone Limited, ICICI Bank Canada, ICICI Bank UK PLC, South Asia Regional Fund and CDC Investment Holdings are selling their stakes through this offer.
The equity shares are proposed to be listed on the NSE and the BSE.
FMCG company is in the fabric care, household insecticide, surface cleaning, personal care and air care segments of the Indian market. It offers branded products including fabric whitener, mosquito repellent, dishwashing, bath and incense products.
Enam Securities Pvt Ltd and Kotak Mahindra Capita Company Ltd are book running lead managers and Intime Spectrum Registry Limited is the registrar to the issue
Source: Moneycontrol.com
Tuesday, November 27, 2007
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