Prakash Steelage, occupied in the manufacturing of seamless as well as welded stainless steel Pipes, Tubes and U-tubes, has put the issue price at Rs 110 for each equity share.
The company has swabbed upbeat Rs 687.50 million via the public offer of 6.25 million equity shares. The issue, which clogged August 10, was subscribed to 4.53 times.
The retail bidder portion was subscribed 6.62 times, the non institutional bidder 10.91 times and the qualified institutional bidders’ portion 1.27 times.
The company plans to exploit the issue proceeds to move up resources for part financing its expansion plan at the it’s existing manufacturing facility at Umbergaon, Gujarat and also to meet the additional working capital requirement.
Newer news items:
- Brokers` views on Tecpro Systems IPO
- Allied, Orient Cera, ONGC, Sun Pharma: Stocks in news
- Indosolar IPO subscribes 1.55 times on close up
- Patni baggage 3 year contract from Codan Group
- Bajaj Corp catalogs at 15.15% premium
Older news items:
- IIFL suggest to ‘Subscribe’ to SKS Microfinance IPO
- HDFC Securities: SKS Microfinance IPO can give listing profits
- Aster Silicates lists at 8.51% premium on NSE
- CIL shares to be divested by Sept-Oct
- Parabolic Drugs drops 3.93% after even listing
