Fineotex Chemical IPO to open for subscription on February 23, 2011

The Initial Public Offering (IPO) of Fineotex Chemical Limited will open for subscription by investors on February 23, 2011. The company is coming out with Public Issue of 4211160 Equity Shares Of Rs 10/- Each for cash at a price band of Rs. 60 to Rs.72 through 100% Book Building process.

The Minimum Order Quantity is 90 Equity Shares and in multiples of 90 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.200000.

The Rating Agency CARE has assigned IPO Grading of IPO GRADE 2.

IndBank Merchant Banking Services Limited is the Book Running Lead Manager to the issue. Hem Securities Limited is the Syndicate Member to the IPO.

BIGSHARE SERVICES PRIVATE LIMITED is the registrar to the company. The IPO will close for subscription on February 25, 2011.

Source : Equity Bulls

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