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Scaled-down valuations force company to sell 25%, instead of 10%
Company is looking to sell 1.74 cr shares that will constitute 25.02% of fully diluted post offer paid up equity share capital of the company
Extension of issue dates, cut in offer price failed to garner investor interest
The company has lowered the price band from Rs 130 to Rs 132 per share to Rs 118 and Rs 120
The IPO price band of Rs 130-132 leaves little room for appreciation
IDBI Capital Market Services is lead manager while legal advisers are Desai & Diwanji
Company is proposing a public issue of 1,05,06,954 equity shares of Rs 10 each
Part of money raised will be used to finance portion of cost of setting up unit for trouser manufacturing at Doddaballapur
IPO will comprise 25.66% of fully diluted post issue paid up equity share capital
The company is a wholly-owned subsidiary of Repco Bank (76.8% owned by the government of India) and established in 2000
The company had re-filed its draft red herring prospectus with Sebi in August last year for the proposed public offer
This marks a slight increase of four per cent from the total funds raised through IPOs during the previous financial year
The finance company had raised Rs 270 cr from an IPO between March 13 and March 15. The IPO was subscribed 1.6 times
The company is coming out with a fresh issue of equity shares to raise Rs 13 cr
The regulator had received the draft offer documents on December 14 through its lead manager Enam Securities
The company received bids for 2.17 crore shares against an offer of 1.33 crore shares
Construction for 'Dream Homes' at company's integrated township-Wave City will be completed in 3-4 years