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IPO - At A Glance : Indian-commodity.com

Tuesday, November 27, 2007

BGR Energy Systems IPO Opens Dec 5; Price Band Rs 425-480

MUMBAI: BGR Energy Systems plans to enter capital market with its initial public offering of 9,136,000 shares on December 5.

Price band of 100 per cent book building issue of face value Rs 10 is fixed at Rs 425-480 per share.

At the lower price band, the company would Rs 388.28 crore and at the cap-price it would garner Rs 438.52 crore.

BGR Energy Systems plans to utilise the net proceeds to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East.

Net issue to the public will be of 8,636,000 equity shares and would constitute 11.99 per cent on the post-issue paid up capital.

BGR Energy Systems has entered into agreements with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares.

SBI Capital Markets, Kotak Mahindra Capital Company, UBS Securities and CLSA India are the book running lead managers to the issue.
Posted by Indian-commodity at 12:12 PM

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