The IPO of Vaswani Industries Limited has received a good response from the investors with the final day subscription figure reached to to 4.16 times on an overall basis. Vaswani Industries IPO opens on 29th Apr 2011 and will get closed on 3rd May 2011 for subscription. The IPO has managed to get a good response from Non Institutional Investors Category where it overbid by 11.29 times on the final day of subscription. The price band for the issue is Rs 45 at lower level and Rs 49 at upper level. Vaswani Industries Limited is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation. VIL is a part of Vaswani Group of Industries.
The category-wise subscription status of IPO on closing of final day is given below:-
Qualified Institutional Buyers (QIBs) : 0.16 times
Non Institutional Investors : 11.29 times
Retail Individual Investors : 6.83 times
The Company had entered the capital markets on 27th April 2011 with a public issue of Rs 60 crore through 100% book building process in the price band of Rs 27 to Rs 29 per equity share of Rs 10 each.
The IPO by the Servalakshmi Paper Limited, one of the largest single location plant in India and ranking within 15 major paper plants in the country, has been subscribed 1.46 times with bids received totaling 32.43 million Equity shares by 5 p.m. on the last day of the Issue today, according to data available on the NSE site.
The Company had entered the capital markets on 27th April 2011 with a public issue of Rs 60 crore through 100% book building process in the price band of Rs 27 to Rs 29 per equity share of Rs 10 each. The equity shares are proposed to be listed on BSE and NSE. Keynote Corporate Services Ltd is the Book Running Lead Manager to the Issue and Indian Overseas Bank is the Co-Book Running Lead Manager to the Issue and Link Intime India Pvt Ltd is the Registrar to the Issue.
Servalakshmi Paper Ltd. belonging to “Servall” group of Tamil Nadu is engaged in business of manufacturing printing & writing paper and newsprint. The company has set up an integrated paper mill with a capacity to produce 300 Tonnes Per Day (TPD) i.e. 90,000 MTPA alongwith a 15 MW Multi Fuel Captive Power Plant at a single location in phase I of the project implementation. Out of the total investment estimated at Rs.340 crores, the company has already spent an amount of Rs.280 crores to implement phase I of the project in all respects. The commercial production has commenced from April 2010.
Having created the required manufacturing facilities through Phase-I, Servalakshmi Paper is now in the process of implementing the Phase-II of the project which will add balancing equipments for producing value added products which will lead to enhancing the capacity to 1,08,000 MTPA and also augmenting working capital needs. The company intends to meet the requirements of Phase-II through the proposed IPO.
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