SVPCL IPO ended with 1.09 times subscription. The IPO received total bids for 93.91 lakh shares as against the IPO size of 86.25 lakh shares. The qualified institutional buyers category was subscribed 0.45 times. The total bids in this category were for 19.81 lakh shares as against 43.12 lakh shares assigned for this category.
The non institutional investors, made up of corporates and high net individuals, was subscribed 0.49 times. The total bids in this category were for 6.42 lakh shares compared with 12.93 lakh shares allotted for this category.
The retail investors category was subscribed 2.24 times. The total bids in this category were for 67.67 lakh shares as against 30.18 lakh shares set aside for this category.
The issue will be made through book building route in the price band Rs 40-45 per equity share of Rs 10 each. The issue will close 26 October 2007.
The company intends to utilise the net proceeds from the issue to fund expansion of facilities at Hyderabad, Vijayawada and Vishakhapatnam. It also plans to equip Vishakapatnam facility with modern processing and printing equipments.
SVPCL is one of the leading paper product manufacturers in south India. It manufactures the entire range of educational stationery like books, computer stationery, paper products, general stationery and printing services.|