RDB Rasayans IPO subscribed 1.5 times - Indian IPO Blog

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Friday, September 23, 2011

RDB Rasayans IPO subscribed 1.5 times

RDB Rasayans Limited, engaged in the manufacturing of packaging material such as PP Tape, PP woven sacks, woven fabrics, industrial woven fabric, PP woven fabrics and PP woven bags, has received good response from investors and was subscribed 1.5 times on the closing day of the IPO

Chartered Capital And Investment Limited is the sole book running lead manager for the Issue. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE). The Company plans to utilize the proceeds from the IPO to finance the capital expenditure to enhance the manufacturing capacity by establishing another unit besides meeting the issue expenses and general corporate purposes

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