Varun Industries Ltd IPO Open for Subscription

The Initial Public Offering (IPO) of Varun Industries Ltd is open for subscription by investors. The company came out with an Initial Public Offering (IPO) of 90,00,000 equity shares of Rs.10 each for cash at a premium of Rs.50 per share for cash aggregating Rs.5400 Lakhs.

The IPO opened for subscription on Thursday - October 25, 2007 and closes on Wednesday - October 31, 2007.

The Issue comprises of a reservation of 24,30,000 equity shares of Rs.10 each at a premium of Rs.50 per equity share for cash aggregating to Rs.1458 Lakhs to be allotted to the Promoters. The net issue to the public consists of 65,70,000 equity shares of Rs.10 each at a premium of Rs.50 per share aggregating Rs.3942 Lakhs. The Net Issue to the public would constitute 29.71% of the fully diluted post-issue capital of the company.

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

The Lead Manager to the issue is IDBI Capital Market Services Ltd. Bigshare Services Pvt Ltd is the Registrar to the issue.

Click Here to view the website of Varun Industries Ltd

Click Here to view the prospectus of Varun Industries Ltd

Source : Equity Bulls

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