Date:09/04/2005 URL: http://www.thehindubusinessline.com/2005/04/09/stories/2005040901711300.htm

Back Gokaldas fixes IPO price at Rs 425, issue subscribed 47 times

Our Bureau

Mumbai , April 8

GOKALDAS Exports Ltd has fixed the price of IPO at Rs 425 (the upper band) for its public issue of 31.25 lakh equity shares of Rs 10 each. The issue opened on March 30 and closed on April 6.

According to a press release, the company received over 1.5 lakh bids, with the qualified institutional buyers (QIB) portion getting subscribed by over 50 times and the overall issue getting subscribed over 47 times.

The company proposes to list the stock on the BSE and the NSE.

The issue was made through the 100 per cent book-building process wherein at least 60 per cent of the issue, that is, 18.75 lakh equity shares shall be issued on a discretionary basis to QIB. Up to 15 per cent of the issue, that is, 4.68, lakh equity shares shall be available for allocation on a proportionate basis to wholesale bidders and not less than 25 per cent of the issue, that is, 7.81 lakh equity shares will be available for allocation on a proportionate basis to retail bidders.

The issue would constitute 18.18 per cent of the fully diluted post issue paid-up capital of the company.

The book running lead manager to the issue is Enam Financial Consultants Private Ltd and co-book running lead manager is IL&FS Investsmart Ltd.

Karvy Computershare Pvt. Ltd is Registrar to the issue.