The initial public offer of J Kumar Infraprojects (JKIL), a civil engineering and infrastructure development company, has managed to get subscribed fully on last day of subscription as it was subscribed just 0.17 times till yesterday due to negative sentiment in markets.
The issue has subscribed 2.17 times till 6 pm, according to NSE website and received bids for 1.41 crore shares as against 65 lakh shares on offer.
The issue closed for subscription. The price band is between Rs 110 and Rs 120 per equity share.
As on November 30, 2007, the company's order book, which includes some uncommenced projects and the unfinished and uncertified portions of the commenced projects, was Rs 461.15 crore. The proceeds from this issue are intended to be deployed for the purchase of capital equipments and for funding working capital requirements.
The company's core areas of expertise in the construction of infrastructure projects include: Transportation Engineering, Civil Construction, Irrigation Projects and Piling work using hydraulic piling rigs.
The sole book running lead manager to the issue is Anand Rathi Securities Limited
Source: Moneycontrol.com
Wednesday, January 23, 2008
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