Saturday, March 1, 2008

V-Guard Ipo, notifies issue price at Rs 82 a share

Kerala-based V-Guard Industries, engaged in the manufacturing and marketing of electrical and electronic products, fixed the issue price at Rs 82 a share to raise Rs 656 million via an IPO.

The company had come out with a public issue of 8 million equity shares of Rs 10 each for cash.

The issue comprised of 26.80% of the fully diluted post issue paid-up capital of the company.

The issue had oversubscribed 2.70 times. The qualified institutional buyers` oversubscribed by more than 1.74 times, the retail portion by 4.24 times and the HNI portion by 2.92 times.

Anand Rathi Securities is the book running lead manager to the IPO and Intime Spectrum Registry is the registrar to the issue.

The shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).

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