Lotus Eye Care Hospital extends IPO till June 20, 2008

The Initial Public Offering (IPO) of Lotus Eye Care Hospital Ltd (LECHL), the state-of-the-art-eye care hospital group from Coimbatore with specialisation in super-specialty service which opened for subscription by investors on June 12, 2008 has received poor response from investors.

The IPO received subscription of only 0.61 times till the last date of closing June 17, 2008. The company had priced its IPO in the price band of Rs.38-42 per equity share through 100% book building process.

The Book Running Lead Manager to the issue has revised the closing date as June 20, 2008 and revised the price band from Rs 38 /- to Rs 42 /- per share to Rs 36 /- to Rs 38 /- per share.

CARE has assigned ‘IPO Grade 3’ to the issue indicating its average fundamentals.

The company's stock will be listed on the BSE and NSE.

Keynote Corporate Services Ltd is the book running lead manager and Canara Bank Merchant Banking Division is the co-lead manager for the issue.

Keynote Capitals Limited is the Syndicate Member to the issue.

SKDC Consultants Limited is the Registrar to the issue.

Source : Equity Bulls

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