IRB Infrastructure Fixes IPO Price Band At Rs. 185 Per Share

Submitted by Gurpreet Kaur on Thu, 02/07/2008 - 11:26

IRB Infrastructure Developers Ltd has fixed the issue price for its IPO at lower end of the price band at Rs 185 a share.

Drawing a good response from even the retail investors, the company's IPO was subscribed over 4.3 times. The qualified institutional buyers' portion was subscribed 6.4 times and high net worth individual portion by 1.6 times.

IRB Infrastructure, with extensive experience in the roads and highways sector and currently involved in 12 BOT projects in this sector, has entered the capital markets on 31st January 2008 with a public issue of 5.1 crore equity shares of Rs 10 each. The company fixed the price band for the issue at Rs 185 to Rs 220.

The offer constituted 15.36 per cent of the fully diluted post issue paid-up capital of the company.

Deutsche Equities India Private Ltd is the Sole Global Coordinator and BRLM for the Issue and Kotak Mahindra Capital Co. Ltd is the Co-BRLM for the Issue.


Tagged with

Miscellaneous

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

© Copyright 2010