Analysis and Insights into the world of IPOs and investing in India

Monday, September 20, 2010

Electrosteel Steels IPO Price Band and Bid Lot

The Price Band for the IPO of Electrosteel Steels Ltd. is set at Rs.10/- to Rs.11/- per equity shares. The IPO would consist of 225,516,188 Equity Shares, having a Face Value of Rs.10/- each. The Bid Lot would be 600 Equity Shares and in multiples thereof

The Equity Shares of Electrosteel Steels Ltd. are proposed to be listed on both BSE and NSE. The IPO would remain open for subscription between September 21, 2010 and September 24, 2010

The objects of the Issue are to create a public market for equity shares by listing securities of Company on Stock Exchanges and:
1. To part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India;
2. For Margin money towards Bank Guarantees;
3. For general corporate purposes

Stay tuned for more on Electrosteel Steels Ltd. IPO!
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