Sadbhav Infrastructure Project IPO opens on August 31, 2015

Sadbhav Infrastructure Project Limited ("SIPL'), a subsidiary of Sadbhav Engineering Limited had ealrier announced regarding the filing of Draft Red Herring Prospectus on May 25, 2015.

SIPL has filed its red herring prospectus dated August 21, 2015 with Registrar of Companies, Gujarat at Ahmedabad on August 21, 2015 in order to undertake an initial public offering of its equity shares (the "Issue"). The Issue consists of a fresh issue of equity shares of Rs. 10 each (the "Equity Shares") aggregating up to Rs. 4,250 million and an offer for sale of up to 3,235,762 Equity Shares by Xander investment Holding XVII Limited and up to 3,235,762 Equity Shares by Nonvest Venture Partners VII-A-Mauritius.

The Bid / Issue opens on August 31, 2015 and closes on September 2, 2015. The Anchor Investor Bid / Issue Period shall be one Working Day prior to the Bid / Issue Opening Date.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.332.9 as compared to the previous close of Rs. 327.75. The total number of shares traded during the day was 30443 in over 1050 trades.

The stock hit an intraday high of Rs. 339.5 and intraday low of 318.8. The net turnover during the day was Rs. 9906230.

Source : Equity Bulls

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