MIC Electronics Limited IPO to open on April 30, 2007

MIC Electronics Limited is coming out with an Initial Public Offering (IPO) of 5,100,000 equity shares of Rs.10 each at a price band of Rs.129 to Rs.150 to be decided through 100% book building proces. The IPO opens for subscription on April 30, 2007 and closes on May 08, 2007.

The Issue is being made through the 100% Book Building Process wherein upto 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"). 5% of the QIB Portion shall be available for allocation to Mutual Funds only and the remaining QIB Portion shall be available for allotment to the QIB Bidders including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

Out of the issue, 2,550,000 shares are reserved for subscription by Qualified Institutional Buyers (QIBs), 765,000 shares for Non Institutional Investors and 1,785,000 shares are reserved for Retail Individual Investors (RIIs).

The equity shares of the company are proposed to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The Book Running Lead Manager to the issue is Edelweiss Capital Ltd. Intime Spectrum Registry Ltd is the registrar to the issue.

Click Here to visit the company's website MIC Electronics Limited

Click Here to view the company's prospectus MIC Electronics Limited

Source : Equity Bulls

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