Electrosteel Steels IPO Allotment Status is declared and can now be checked online

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The IPO of Electrosteel Integrated Limited has managed to garner good response on its closing day with the IPO closing with an overall subscription figure of 8.23 times. Following is the final subscription status of Electrosteel Integrated Limited IPO

Electrosteel Integrated Limited IPO Final Subscription Status as on Friday, September 24, 2010 1700 hrs IST:
QIB: 5.86 times
Non-Institutional Investors: 28.58 times
Retail: 6.19 times
Overall: 8.23 times

QIB: 5.86 times
Non-Institutional Investors: 0.75 times
Retail: 0.43 times
Overall: 3.72 times

QIB: 0.40 times
Non-Institutional Investors: 0.61 times
Retail: 0.13 times
Overall: 0.34 times

QIB: 0.04 times
Non-Institutional Investors: 0.61 times
Retail: 0.01 times
Overall: 0.09 times

The Initial Public Offers of Ramky Infrastructure Limited, Orient Green Power Company Limited, and Electrosteel Steels Limited open for subscription today. The IPOs of Ramky Infrastructure Limited would remain open for subscription till Thursday, September 23, 2010, while Orient Green Power Company IPO , and Electrosteel Steels IPO would remain open till Friday, September 24, 2010

Here's a brief profile of the IPOs opening today:

(1) Ramky Infrastructure Limited
Ramky Infrastructure Ltd. is an integrated construction and infrastructure development and management company in India. Ramky Infrastructure serviced a diverse range of construction and infrastructure projects in sectors as varied as water and waste water, transportation, irrigation, industrial parks (including SEZs), power transmission and distribution, residential, commercial and retail property

(2) Orient Green Power Company Limited
Orient Green Power Company limited (OGPL) is a leading independent renewable energy power producer in India. Orient Green Power is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity. According to the Company's website, currently its portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development

(3) Electrosteel Steels Limited
Electrosteel Steels Ltd. is promoted by Electrosteel Castings Ltd. (ECL), which is in the business of manufacturing Cast Iron pipes for over four decades and Ductile Iron Spun Pipes. Electrosteel Castings Ltd. has setup Electrosteels Steels for implementing the integrated steel Ductile Iron Spun Pipes project in Jharkhand

Electrosteel Steels IPO has received an IPO Grade 3/5 from Credit Rating Agency CARE. CARE assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 1 indicating poor fundamentals and IPO Grade 1 indicating strong fundamentals

Electrosteel Steels Ltd., a subsidiary of Electrosteel Group, is entering capital markets with an IPO of 368,772,000 Equity Shares of Rs.10/- each. The IPO would remain open for subscription between Tuesday, September 21, 2010 and Friday, September 24, 2010

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

Stay tuned for more on Electrosteel Steels IPO!

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!

Issue Size: 368,772,000 Equity Shares of Rs.10/- each 
Issue Opens on: Tuesday, September 21, 2010
Issue Closes on: Friday, September 24, 2010
Price Band: Rs.10/- to Rs.11/- per equity share
Bid Lot: 600 Equity Shares and in multiples thereof
Lead Manager: Edelweiss Capital Ltd., Enam Securities Pvt. Ltd., SBI Capital Markets Ltd.
Registrar: Karvy Computershare Pvt. Ltd.

Electrosteel Steels Ltd., a subsidiary of Electrosteel Group, is entering capital markets with an IPO of 368,772,000 Equity Shares of Rs.10/- each. The IPO would remain open for subscription between Tuesday, September 21, 2010 and Friday, September 24, 2010

The Book Running Lead Managers to the issue are Edelweiss Capital Ltd., Enam Securities Pvt. Ltd. and SBI Capital Markets Ltd. Karvy Computershare Pvt. Ltd. is the registrar

Stay tuned for more on Electrosteel Steels IPO!