First Winner Industries IPO extended, price band reduced to Rs 115 - Rs 125

The Initial Public Offering (IPO) of First Winner Industries Limited which opened for subscription on June 9, 2008 had received subscription of 0.74 times till the original last day - June 12, 2008.

The company has come out with an IPO of 55,00,000 equity shares of Rs 10 each for cash at a price band of Rs 120 to Rs 130 through 100% book-building process.

The issue failed to evoke favorable response from investors and hence the Book Running Lead Manager Almondz Global Securities Limited decided to revise the issue price and extend the last date of closing.

The Lead Manager has reduced the price band from Rs.120 /- to Rs 130 /- per share to Rs 115 /- to Rs 125 /- per share.

The last date of closing for the IPO has been revised to June 17, 2008.

Source : Equity Bulls

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