Electrosteel Steels IPO hits capital markets

The Initial Public Offering (IPO) of Electrosteel Steels has hit the capital markets today - September 21, 2010. The company has come out with Public Issue of 225,516,188 Equity Shares of Rs. 10/- each for cash at a price band of Rs. 10/- TO Rs. 11/- through 100% Book Building process.

The IPO closes for subscription for QIB bidders on September 23, 2010 and on September 24, 2010 for others.

The Minimum Order Quantity is 600 Equity Shares and in multiples of Minimum 600 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency CARE has given IPO Grading of IPO Grade 3. Edelweiss Capital Limited, Enam Securities Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the IPO.

SBICAP Securities Limited and Edelweiss Securities Limited are the Syndicate Members to the IPO. Karvy Computershare Private Limited is the registrar to the company.

Source : Equity Bulls

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