Wednesday, October 26, 2005

Bannari Amman Spg IPO subscribed 6.90 times

Bannari Amman Spinning Mills IPO closed yesterday. The issue has been subscribed 6.90 times, as per the NSE website. The QIBs portion has been subscribed 4.28 times. The non-institutional investors portion has been subscribed 8.04 times. The retail individual investors portion has been subscribed 10.15 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 was fixed at Rs 115-135. The issue constituted 44.44% of the post issue paid up capital of the company. The capital was being raised to part finance the company's expansion plan.The book running lead managers to the issue were IL&FS Investsmart and ICICI Securities and the registrar was Intime Spectrum Registry. The equity shares of the company will be listed on the BSE and NSE.


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