20 Microns, one of the India's largest manufacturer of white minerals, has fixed the price band between Rs 50 and Rs 55 a share for its initial public offering (IPO) of
4,350,632 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The issue consists of a fresh issue of 67.50 lakh equity shares and an offer for sale of 26.75 lakh equity shares by Gujarat Venture Capital Fund 1995. The issue will constitute 49.10 % of the post issue paid up capital of the company.
Rating agency, Credit Analysis and Research (CARE) has assigned the `IPO Grade 3', indicating average fundamentals.
Orissa Manganese and Minerals (OMM), a subsidiary of Adhunik Metaliks plans to raise Rs 250-300 crore through a public issue later this year to fund its mining plans.
The security and exchange board of India (SEBI) has approved new guidelines for initial public offer (IPO). According to new rule, the investors have to pay the amount for allotted shares. The investors are exempted to pay 100 percent advance fees. The amount can be retained in bank account till the completion of entire allotment process.
guidelines for initial public offer (IPO). According to new rule, the investors have to pay the amount for allotted shares. The investors are exempted to pay 100 percent advance fees. The amount can be retained in bank account till the completion of entire allotment process.
