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The size of the IPO will be Rs 910 million at the upper end and
Rs 805 million at the lower end of the band. The issue is scheduled
to open on 21 February and close on 25 February.
Enam Financial Consultants is the book running lead manager while
IL&FS Investmart is co-book running lead manager to the issue.
The issue comprises fresh equity of 4,500,000 shares of Rs10 each
and offer for sale by CDPQ (a Canadian private equity investor)
of 2,499,950 equity shares of Rs10 each for cash. It consists of
349,950 equity shares reserved for employees on a competitive basis
and a net issue to public of 6,650,000 equity shares. The net issue
to public would constitute 34.11 per cent of the fully diluted post
issue paid-up capital of the Company.
The IPO is being made through 100 per cent book building process
wherein up to 50 per cent of the net issue to public shall be allocated
to Qualified Institutional Buyers on a discretionary basis, not
less than 25 per cent of the net issue to public would be allocated
to Non-Institutional Investors and not less than 25 per cent of
the net issue to public, would be allocated to retail individual
investors on a proportionate basis. This will be subject to valid
bids being received from them at or above the issue price.
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