After receiving excellent response to its initial public offering, Transformers and Rectifiers (India), one of the major players in the Indian market manufacturing a wide range of transformers ranging from power generation, transmission, distribution transformers, industrial transformers and a wide range of speciality transformers, will list on the bourses on December 28.
The issue price has been fixed at Rs 465 per equity share (at the upper end of the price band) for its initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share.
The issue was over-subscribed 91.31 times. The qualified institutional bidders (QIBs) portion was over-subscribed by approximately around 111 times; the non institutional bidders portion was over-subscribed by approximately 122 times; the retail bidder portion was oversubscribed by approximately around 58 times. The issue got bids for 27.35 crore shares as against 29.95 lakh shares on offer.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Enam Securities Private Limited is the sole book running lead manager to the issue.
Source: Moneycontrol.com
Thursday, December 27, 2007
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