IPO gets bids for 59.92 lakh shares
The initial public offer (IPO) of Loha Ispaat was subscribed 0.22 times on seventh day of the bidding for the IPO today, 20 March 2014. The IPO received bids for 59.92 lakh shares till 16:00 IST on day seven of the bidding for the IPO today, 20 March 2014, compared with 2.67 crore shares on offer, as per NSE data.
The IPO closes on 25 March 2014. The company has set a price band of Rs 74 to Rs 77 per equity share of face value Rs 10 each. The company today, 20 March 2014, extended the issue closing date to 25 March 2014 from earlier 20 March 2014 and also scaled down the price band from earlier range of Rs 77 to Rs 80 per share.
The issue constitutes 26.44% of the post-issue paid-up equity share capital of the company. The equity shares are proposed to be listed on the BSE and NSE.
The IPO has been graded by CARE as 'CARE IPO Grade 3', indicating average fundamentals.
Loha Ispaat is a steel processing and service company that operates from Khopoli and Taloja in western Maharashtra.
On a consolidated basis, Loha Ispaat reported a net profit of Rs 38.90 crore on sales of Rs 2021.65 crore in six-months ended September 2013.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app