Titagarh Wagons IPO subscribed 0.21 times
The initial public offering of Titagarh Wagons was subscribed 0.21 times till 2 pm on the second day, as per the NSE website. The issue closes March 27.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offering of Titagarh Wagons was subscribed 0.21 times till 2 pm on the second day, as per the NSE website. The issue closes March 27.
The issue has received 4,98,090 bids against 23,83,768 shares on offer in the price band Rs 540-610 per share. Around 5,800 bids were received at the cut off price. The issue consists of a net issue of 23,68,768 shares and a reservation of up to 15,000 shares for employees. The net issue will constitute 12.8 per cent of the post issue capital.
Titagarh Wagons plans to utilise the proceeds for - a) setting up an EMU manufacturing facility at Uttarpara unit, b) modernising and expanding the existing facilities at Titagarh and Uttarpara units, c) setting up an axle machining and wheelset assembly facility at Uttarpara unit, d) constructing a corporate office and a design cum research and development office, e) strategic acquisition or investments, f) brand building exercise and g) general corporate purposes.
The stock will be listed on the Bombay Stock Exchange and National Stock Exchange of India.
The lead manager to the issue is Kotak Mahindra Capital and the co-book running lead manager is JM Financial Consultants.
The issue has received 4,98,090 bids against 23,83,768 shares on offer in the price band Rs 540-610 per share. Around 5,800 bids were received at the cut off price. The issue consists of a net issue of 23,68,768 shares and a reservation of up to 15,000 shares for employees. The net issue will constitute 12.8 per cent of the post issue capital.
Titagarh Wagons plans to utilise the proceeds for - a) setting up an EMU manufacturing facility at Uttarpara unit, b) modernising and expanding the existing facilities at Titagarh and Uttarpara units, c) setting up an axle machining and wheelset assembly facility at Uttarpara unit, d) constructing a corporate office and a design cum research and development office, e) strategic acquisition or investments, f) brand building exercise and g) general corporate purposes.
The stock will be listed on the Bombay Stock Exchange and National Stock Exchange of India.
The lead manager to the issue is Kotak Mahindra Capital and the co-book running lead manager is JM Financial Consultants.
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