Tuesday, October 25, 2005

Bannari Amman Spg IPO closes today, subscribed 3.04 times

Bannari Amman Spinning Mills IPO closes today. The issue has been subscribed 3.04 times till 11 am, as per the NSE website. The QIBs portion has been subscribed 5.27 times.
The company entered the capital market on October 19, with a public issue of 70 lakh equity shares of the face value of Rs 10 each through the 100% book building process. Its price band has been fixed at Rs 115-135.
The issue would constitute 44.44% of the post issue paid up capital of the company. The capital is being raised to part finance the company's expansion plan.
The book running lead managers to the issue are IL&FS Investsmart and ICICI Securities and the registrar is Intime Spectrum Registry.
The equity shares of the company will be listed on the BSE and NSE.


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