Pochiraju Industries issue subscribed 1.83 times
A producer and exporter of roses, Pochiraju Industries has been received modest response from investors as investors have lot of issues in the primary market, which are open these days.
The issue was oversubscribed 2.56 times, till 6 pm on January 18, 2007, as per NSE website.Total bids received were more than 3.53 crore equity shares as against issue size of 1.38 crore share and more than 1.61 crore bids received at cut off price.
The company entered capital market with a public issue of equity shares of Rs 10 each aggregating Rs 34.75 crore. The price band was at Rs 25 and Rs 30 per share.
The proceeds of the issue would be used to part fund expansion plans of the company. The company proposes to issue 1.12 crore shares.The company proposes to set up a bio-fermentation and protein purification unit at the Shapoorji Pallonji Biotech Park near Hyderabad.The company will also set up a bio-parental unit with an investment of Rs 10 crore, he added. Allbank Financial and Aarthi Consultants are the book running lead managers to the issue.
The issue was oversubscribed 2.56 times, till 6 pm on January 18, 2007, as per NSE website.Total bids received were more than 3.53 crore equity shares as against issue size of 1.38 crore share and more than 1.61 crore bids received at cut off price.
The company entered capital market with a public issue of equity shares of Rs 10 each aggregating Rs 34.75 crore. The price band was at Rs 25 and Rs 30 per share.
The proceeds of the issue would be used to part fund expansion plans of the company. The company proposes to issue 1.12 crore shares.The company proposes to set up a bio-fermentation and protein purification unit at the Shapoorji Pallonji Biotech Park near Hyderabad.The company will also set up a bio-parental unit with an investment of Rs 10 crore, he added. Allbank Financial and Aarthi Consultants are the book running lead managers to the issue.
posted by SY at 7:02 PM
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