NCML extends IPO till Jan 9; price band lowered to Rs 80-90

Amid tepid response to its initial public offer, the issue closure date of NCML Industries has been extended till January 9 and the price band has been revised lower from Rs 100-120 to Rs 80-90.
"Trading members are informed that the merchant banker to the issue of NCML Industries Limited has informed the exchange that the issue stands extended for five working days and will now close on January 9, 2015.
"Accordingly, the price band has been revised to Rs 80-90 from the existing price band of Rs 100-120," the company said in a notification to the BSE.
The issue had opened for subscription on December 29, 2014 to carry out sale of 60 lakh equity shares through its IPO.

The offer was earlier scheduled to be closed on January 2, 2015.
The company is into the business of importing, manufacturing and marketing of edible oils in India.
The equity shares are proposed to be listed on BSE and National Stock Exchange (NSE).
Corporate Strategic Allianz Limited is the book running lead manager to the issue.