Saturday, April 24, 2010

Mandhana Ind IPO - Analysis, Subscription, Allotment, Listing

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Mandhana is a vertically integrated textile and garment manufacturing company having presence across operations ranging from yarn dyeing to garment manufacturing. The company has come out with an IPO of 83 lakh equity shares which will reduce the promoters' holdings to 60.47% post issue.

The issue will open for subscription on April 27 and close on April 29, 2010 and has set a price band of Rs 120-130.

Issue proceeds will be used for setting up of new garment manufacturing facility at MIDC, Tarapur Maharashtra; expansion of yarn dyeing and weaving facility at MIDC, Tarapur, in the State of Maharashtra, and for working capital.

The book running lead managers to the issue are Axis Bank and Edelweiss Capital Ltd. Link Intime India Pvt Ltd is the registrar.

The IPO got a good response, quite different from some of the recent IPOs.

At the close of the IPO,
QII segment got subscribed by 8 times
NII segment got subscribed by 10.5 times
Retail segment got subscribed by 2.8 times

Click here to check if you have been alloted Mandhana shares!

Mandhana Industries listed on the bourses at Rs 131 per share as against its issue price of Rs 130.

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