After received fabulous response to its initial public offer, the BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, will list on the bourses on January 3, 2008.
The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website.
Qualified institutional investors have given strong support to the issue, their reserved portion subscribed 162 times followed by HNIs and retail with subscription of 153 times and 47 times respectively.
SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.
The company proposes to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
Source: Moneycontrol.com
Tuesday, January 1, 2008
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