Gravita India fixes Price Band Rs. 120 -125 for IPO, opens on 01 Nov. 2010

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Jaipur-based lead manufacturer Gravita India has fixed a price brand of Rs 120-125 a share for its initial public offer (IPO) that opens on November 1. Issue closes on November 3.

Gravita India Limited (GIL) is entering into primary market with an Initial Public Offer (IPO) of 3,600,000 Equity Shares of Rs 10 each. The IPO is opening on 1st Nov 2010 and the shares will be available for subscription up to 3rd Nov 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for
the issue has been fixed at Rs. 120 – Rs. 125 Per Equity Share. Gravita India Limited (GIL) is in the business of manufacturing of Lead Metal by Recycling & Smelting process & other lead products. Gravita India Ltd is flagship Company of the Gravita Group which was established in the year 1992 and has manufacturing set up at Jaipur.

The proceeds of this IPO will be used to set up additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra in India, to invest in overseas ventures at Sri Lanka- Navam Lanka Ltd, Senegal – Pagrik Senegal SA-Honduras-Gravita Honduras SA, to invest in setting up manufacturing facilities at Australia, Belarus, Chile and Mexico, to provide margin money for working capital requirement, for general corporate purposes, to meet the expenses of the issue and to list the equity shares on the Stock.

The Promoters of the Company are Mr. Dr. Mahaveer Prasad Agarwal, Mr. Rajat Agrawal, the main Founder Director, and Mr. Rajeev Surana.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 1st Nov 2010 – 3rd Nov 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 3,600,000 Equity Shares of Rs 10 each
Issue Size : Rs. 40.00 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 120 – Rs. 125 Per Equity Share
Market Lot : 50 Shares
Minimum Bid Quantity : 50 Shares
Listing At : BSE, NSE

The sole book running lead manager to the issue is Keynote Corporate Services Limited.

Registrar of the Issue : Karvy Computershare Private Limited Hyderabad.

More Details : http://www.gravitaindia.com/gravita-ipo.html