Aries Agro (AAL) IPO ends with 7.62 times subscription. The issue received bids for 3.42 crore shares as against 45 lakh shares on offer. (As on 17:00 IST)The issue will close on 19 December 2007. The price band has been fixed between Rs 120 to Rs 130 a share.
The issue will constitute 34.61% of the company's fully diluted post issue paid-up capital. The equity shares of the company, offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Aries Agro is engaged in the manufacture of agricultural products. It operates in five categories that are multi-micro nutrient fertilizers, chelated micro nutrient fertilizers, specialty soluble fertilizers and anti-bacterial products for agricultural use and nutritional products for animals. Its manufacturing facilities are located at Bangalore, Mumbai, Hyderabad and Kolkata, with total production capacity of 21,600 tons per annum.
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