Suryachakra Power Corporation Limited IPO to hit markets

The Initial Public Offering (IPO) of Suryachakra Power Corporation Limited will hit markets on Monday - June 25, 2007. The company is coming out with an IPO of 3,40,00,000 Equity Shares of Rs.10 each for cash at a price band of Rs.17 to Rs.20 through 100% Book Building process.

SREI Capital Markets Ltd is the Book Running Lead Manager and Karvy Stock Broking Ltd is the Syndicate Member for the issue.

Out of the issue, 4,00,000 shares are reserved for eligible employees and the net issue to the public will constitute 3,36,00,000 shares.

The issue would constitute 44.37% of the fully diluted post issue paid-up capital of the company. The net issue to the public would constitute 43.85% of the fully diluted post issue paid-up capital of the company.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) (Designated Stock Exchange).

The Company has voluntarily opted for IPO grading. CRISIL has assigned "IPO Grade 2" to the proposed public Issue of the Company.

Click Here to view Suryachakra Power Corporation Limited website.

Click Here to view Suryachakra Power Corporation Limited prospectus.

Source : Equity Bulls

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