Wednesday, February 3, 2010

Texmo Pipes IPO - Analysis, Subscription, Allotment and Listing

Madhya Pradesh based Texmo Pipes and Products Ltd, a manufacturer of PVC and HDPE pipes, has come out with a public issue of 50 lakh equity shares of Rs 10 each at a price to be determined by the book-building process. The IPO will open for subscription on 16 February, 2010 and will close on 19 February, 2010.

The price band of the IPO is between Rs 85 - Rs 90.

The proceeds of the proposed issue will be used for expansion of the product range and for setting up manufacturing facilities for injection mouldings/fittings and woven sacks.

The IPO received great response from investors and got subscribed 7.5 times before the close.

At the close of the IPO,
QII segment was subscribed 1.02 times
NII segment was subscribed 30.49 times
Retail segment was subscribed 7.26 times
Employee reservation segment was subscribed 0.31 times

Click here to check if you have been alloted Texmo Pipes IPO shares!

Texmo Pipes gave good returns to investors on the listing day. Against the issue price of Rs. 90, the IPO opened at Rs. 92 on NSE which was also the low of the day. It went to a high of Rs. 139 before closing the day at Rs. 137. It closed the day at a premium of over 52%.

Watch out this blog for more details on subscription, allotment and listing!


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