The initial public offering of 85 lakh shares of Kaushalya Infrastructure Development Corporation has received good response; subscribed 7.2 times, till 5 pm, according to data available on NSE website.
The price band is between Rs 50 and Rs 60. The equity shares are proposed to be listed on the BSE and NSE.
Public issue has received bids for 6.12 crore shares as against 85 lakh shares on offer and bids for 2.69 lakh shares at cut off price.
The company will use the proceeds from the issue to fund land acquisition, land development rights and real estate development, investment in BOT/BOOT projects for joint ventures, and purchase of capital and infrastructure equipment for the execution of projects.
This net issue would constitute 40.93 per cent of the fully diluted post-issue paid-up capital of the company.
SREI Capital Markets Ltd will be the lead managers of the issue and Intime Spectrum Registry Ltd the registrar.
Source: Moneycontrol.com
Sunday, November 25, 2007
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