Insecticides India Ltd IPO to hit markets on 7-May-2007

The Initial Public Offering of Insecticides India Ltd will open for subscription on Monday, 7-May-2007. The issue will close for subscription on 11-May-2007.

The company is coming out with a public issue of 32,10,000 equity shares of Rs.10 each for cash at a price band of Rs.97 to Rs.115 through 100% book building process. The net issue to the public will be 31,77,900 equity shares. The net issue to the public would constitute 25.06% of the fully diluted post issue paid up capital of the company.

Out of the issue, 1,588,950 shares are reserved for Qualified Institutional Buyers (QIBs), 476,685 shares are reserved for Non Institutional Investors, 1,112,265 shares are for Retail Individual Investors (RIIs) and 32,100 shares for the employess of the company.

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

UTI Securities Ltd is the Book Running Lead Manager to the issue. Intime Spectrum Registry Ltd is the registrar to the issue.

The company's website is Insecticides India Ltd

Click Here to read company's prospectus Insecticides India Ltd

Source : Equity Bulls

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