Gallantt Metal Ltd IPO open

Gallantt Metal Ltd is coming out with a Initial Public Offering of equity shares of Rs.10 each for cash at a par. The issue consists of fresh issue of 37,120,000 equity shares of Rs. 10/- each for cash at par aggregating Rs. 3,712 lacs (hereinafter referred to as the "Issue") comprising of 6,000,000 Equity Shares of Promoters and Promoter Group Contribution, 1,556,000 Equity Shares reserved for Permanent Employees of the Company and Net offer to the Public of 29,564,000 Equity Shares of Rs. 10/- each of which 29,56,400 Equity Shares being 10% of the Net Offer to the public to be compulsorily allotted to QIBs. The Net offer to the Public would constitute 38.74% of the fully diluted post issue paid up capital of the Company.

The issue opened today and closes on March 10, 2006.

Source : Equity Bulls

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