Manaksia IPO ends with 8.79 times subscription. The issue received total bids for 13.61 crore share as against 1.55 crore shares on offer. (As on 17:00 IST)The company is offering 15.5 million equity shares of face value Rs 2 each. Post-issue, the promoter holding will reduce from 74.8% to 58.1%.
The issue will close on 19 December 2007. The price band has been fixed between Rs 140 to Rs 160 a share.
The equity shares of Manaksia, offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Manaksias business is spread across aluminium sheets, galvanised steel sheets, mosquito coils and metal packaging products. The flat aluminium products are partly used for captive purposes to make metal containers and caps, and the rest is supplied to auto companies like Maruti. Galvanised corrugated steel sheets are mainly used in the household sector in Nigeria.
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