Thursday, October 18, 2012

Bronze Infra-Tech IPO

Bronze Infra-Tech is entering capital market with a public issue of 57.04 equity shares and plans to raise Rs 8.56 crore through the issue. The company was engaged in the business of textile trading till the financial year ended 2011-12. It has started construction and IT supply activities in the current financial year. Currently, it is engaged in the business of land development, construction and execution of infrastructure projects. It subcontracts specific construction, development and execution work related to projects to third party contractors.

Bronze Infra-Tech is currently executing four diversified projects, two of which are land development based projects, one project for civil work and another project related to supply of IT equipments. Promoters' stake in the company will be reduced to 50.40 percent from 75.41 percent post issue.

The IPO shall open on 19 October, 2012 and shall close on 23 October, 2012. The company has fixed an  issue price at Rs 15 a share.

The company plans to utilize the proceeds of the IPO for the fund requirements for execution of ongoing and forthcoming projects.

Bronze Infra-Tech has reported a profit of Rs 3.52 lakh on total income of Rs 3.82 crore in the year ended March 31, 2012.

Inventure Merchant Banker Services Private Limited is the book running lead manager to the issue.


Investors could look at investing in this IPO for moderate listing gains.


Click here to check Bronze Infra-Tech IPO allotment status!


The IPO got listed on 7 November, 2012. The stock touched an intra-day high of Rs 17.10 and low of Rs 16, before closing the day at Rs 16.3, a 8.67% gain over the issue price of Rs 15.
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