BS Transcomm Ltd reduces IPO price band

The Book Running Lead Manager to the IPO of BS Transcomm Limited has announced that the issue will close on Oct 13th, 2010 instead of the earlier closing day on Oct 08th, 2010. The Post issue modification date revised to Oct 14th, 2010 instead of the earlier closing day on Oct 09th, 2010.

The BRLM also announced that the price band has revised from 257 To Rs. 266 TO Rs. 248/- To Rs. 257/- per share.

The IPO received lukewarm response from investor community which forced the company to extend the closing date and revise the price band.

The company has come out with an IPO of 76,79,410 Equity Shares of Rs.10 each for cash at a price band of Rs 257/- to Rs 266/- through 100% Book Building process. The Minimum Order Quantity is 25 Equity Shares and in multiples of 25 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency ICRA has assigned IPO Grading of IPO Grade 2. JM Financial Consultants Private Limited is the Book Running Lead Manager to the issue. JM Financial Services Private Limited and Sunidhi Securities and Finance Limited are the Syndicate Members to the IPO.

Source : Equity Bulls

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