Advanta India Ltd IPO opens for subscription

The Initial Publlic Offering of Advanta India Ltd opened for subscription on Monday - March 26, 2007. The company is coming out with an IPO of 33,80,000 Equity Shares of Rs.10 each at a price band of Rs.600 to Rs.650 through 100% Book Building process.

Out of the issue, 2028000 equity shares are reserved for Qualified Institutional Buyers (QIBs), 338000 shares are reserved for Non Institutional Investors and 1014000 shares for Retail Individual Investors (RIIs).

The issue will be open for subscription till Friday - March 30, 2007. The issue will constitute 30.04% of the post issue paidup capital of the company.

The Company is considering a pre-Issue placement of upto 1,685,600 Equity Shares with certain investors ("Pre-Issue Placement"). The Company will complete the issuance of such Equity Shares prior to the completion of this Issue. If the Pre-Issue Placement is completed, the Issue size offered to the public would be reduced to the extent of such Pre-Issue Placement, subject to a minimum Issue size of 10% of the post-Issue capital being offered to the public.

The company is planning to list its equity shares in both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The Book Running Lead Managers to the issue are YES Bank Ltd, UBS Securities India Pvt Ltd, SSKI Corporate Finance Pvt Ltd.

SHAREPRO Services India Pvt Ltd is the Registrar to the issue.

The company's website is Advanta India Ltd

Click on this link to access the Prospectus of Advanta India Ltd

Source : Equity Bulls

Keywords