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Thursday, May 19, 2011

SEBI has withheld the listing of Vaswani Industries Limited due to complaints over irregularities related to allotment of shares post its Initial Public Offering (IPO)

Vaswani Industries Limited IPO, which closed for subscription on Tuesday, May 03, 2011, had received subscription of 4.16 times on an overall basis. The IPO, which consisted of 1,00,00,000 Equity Shares of Rs.10/- each, had opened for subscription from Friday, April 29, 2011.

Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets and Ingots and power generation

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