Nitesh Estates IPO to hit markets on April 23, 2010

The Initial Public Offering (IPO) of Nitesh Estates Limited will hit markets on Friday - April 23, 2010. The company is coming out with an issue of equity shares aggregating up to Rs 4,050 million.

The company has priced the shares of face value of Rs 10 each at a price band of Rs.54 to Rs 56. The Minimum Order Quantity is 100 equity shares and in multiples of 100 equity shares.

The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency CRISIL has rated the IPO and assigned IPO Grade 2/5.

ICICI Securities Limited, Enam Securities Private Limited, Kotak Mahindra Capital Company Limited and JM Financial Consultants Private Limited are the Book Running Lead Managers to the IPO. Kotak Securities Limited, JM Financial Services Private Limited and Edelweiss Securities Limited are the Syndicate Members.

Karvy Computershare Private Limited is the registrar to the company.

The IPO closes for subscription on Tuesday - April 27, 2010.

Source : Equity Bulls

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