Meghmani Organics Ltd. listed on the stock exchanges Thursday. It opened at Rs 33.25 on the National Stock Exchange, a premium of 75% to the issue price of Rs 19. The low was Rs 26.
The six crore share-public offer was subscribed 23.94 times. The price band of the issue was Rs 17-Rs 19 per share of Re 1 each.The issue was subscribed 44.75 times by non-institutional investors. Of the 3.60 crore shares on offer, qualified institutional buyers applied 19.43 times, while retail investors subscribed the balance 26.01 times.
The objects of the issue included financing a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli.
The company will also use the proceeds to invest in Meghmani Energy, finance a 3MW captive power plant at Chharodi, Gujarat, for diversification opportunities and working capital requirements.
Showing posts with label Meghmani Organics Ltd.. Show all posts
Showing posts with label Meghmani Organics Ltd.. Show all posts
Thursday, June 28, 2007
Friday, June 8, 2007
Meghmani Organics IPO subscribed 24 times
The six crore share public offer of Meghmani Organics Ltd. was subscribed 23.94 times. The IPO opened on Monday and closed Thursday.
The 100% book build offer was made in the price band of Rs 17 and Rs 19 per share of Re 1 each. Non-institutional investors subscribed 44.75 times the 60 lakh shares offered to them, qualified institutional buyers applied 19.43 times the 3.60 crore shares on offer, and retail investors subscribed the balance shares on offer 26.01 times.
Meghmani Organics Ltd. is a manufacturer of pigments and agrochemicals is offering 53,68,421 equity shares in the price band of Rs 17 and Rs 19 per share of Re 1 each. Totally 1.43 billion bids were received. Meghmani Organics has presence in pigments and agrochemicals. It specialises in green and blue pigments, which find use printing inks, plastics, rubber, paints, textiles, leather and paper.
Read more in The Economic Times article
The 100% book build offer was made in the price band of Rs 17 and Rs 19 per share of Re 1 each. Non-institutional investors subscribed 44.75 times the 60 lakh shares offered to them, qualified institutional buyers applied 19.43 times the 3.60 crore shares on offer, and retail investors subscribed the balance shares on offer 26.01 times.
Meghmani Organics Ltd. is a manufacturer of pigments and agrochemicals is offering 53,68,421 equity shares in the price band of Rs 17 and Rs 19 per share of Re 1 each. Totally 1.43 billion bids were received. Meghmani Organics has presence in pigments and agrochemicals. It specialises in green and blue pigments, which find use printing inks, plastics, rubber, paints, textiles, leather and paper.
Read more in The Economic Times article
Wednesday, June 6, 2007
Nelcast, Meghmani Organics IPOs fail to enthuse investors
The initial public offering of Nelcast Ltd. has failed to enthuse investors. Meghmani Organics too has not taken off too well.
As per the latest updates on NSE website, the retail portion of Nelcast was subscribed 0.01 times, while the qualified institutional buyers and non-institutional investors are yet to open their books. The IPO opened for subscription Monday and closes on Friday.
The company is offering 43,50,000 equity shares in the price band of Rs 195-219 per share of Rs 10 face value through 100% book building process. The company plans to raise up to Rs 95.27 crore from the issue.
The Meghmani Organics IPO, which opened along with Nelcast, was subscribed 0.07 times on day two. The company is offering 53,68,421 equity shares of face value Rs 1 each in the price band Rs 17 and Rs 19. The issue closes on Thursday.
The retail investors have subscribed the issue 0.21 times, non-institutional investors subscribed 0.06 times while the QIB portion is yet to see bids.
Read more in The Economic Times article.
As per the latest updates on NSE website, the retail portion of Nelcast was subscribed 0.01 times, while the qualified institutional buyers and non-institutional investors are yet to open their books. The IPO opened for subscription Monday and closes on Friday.
The company is offering 43,50,000 equity shares in the price band of Rs 195-219 per share of Rs 10 face value through 100% book building process. The company plans to raise up to Rs 95.27 crore from the issue.
The Meghmani Organics IPO, which opened along with Nelcast, was subscribed 0.07 times on day two. The company is offering 53,68,421 equity shares of face value Rs 1 each in the price band Rs 17 and Rs 19. The issue closes on Thursday.
The retail investors have subscribed the issue 0.21 times, non-institutional investors subscribed 0.06 times while the QIB portion is yet to see bids.
Read more in The Economic Times article.
Monday, June 4, 2007
Nelcast, Meghmani Organics IPOs open today
The initial public offers of Nelcast Ltd. and Meghmani Organics Ltd. will open today for subscription.
Nelcast has fixed the price band of its IPO between Rs 195-219 for shares of face value Rs 10 each while Meghmani has fixed its price band of its Re 1 each share between Rs 17-19.
Nelcast, a castings and component manufacturing company, plans to raise up to Rs 95.27 crore mainly to fund its capital expenditure.
Meghmani Organics, manufacturer of pigments and agrochemicals, plans to utilise the proceeds to finance a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli. The company would also use the proceeds to invest in subsidiary Meghmani Energy, finance a 3 MW captive power plant at Chharodi,inorganic growth/ diversification opportunities and working capital requirements.
Nelcast has fixed the price band of its IPO between Rs 195-219 for shares of face value Rs 10 each while Meghmani has fixed its price band of its Re 1 each share between Rs 17-19.
Nelcast, a castings and component manufacturing company, plans to raise up to Rs 95.27 crore mainly to fund its capital expenditure.
Meghmani Organics, manufacturer of pigments and agrochemicals, plans to utilise the proceeds to finance a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli. The company would also use the proceeds to invest in subsidiary Meghmani Energy, finance a 3 MW captive power plant at Chharodi,inorganic growth/ diversification opportunities and working capital requirements.
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