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Thursday, May 04, 2006

JRG Sec IPO subscribed 4.47 times, to list in 3rd wk of May

JRG Securities intial public offer, IPO of 36.25 lakh equity shares with a face value of Rs 10 and premium of Rs 30, was subscribed 4.47 times, reports The Hindu Business Line.

The issue was meant to mobilise Rs 14.50 crore (Rs 145 million) for the up-gradation of the existing IT infrastructure, establishment of 30 new regional offices and for overseas expansion, Giby Mathew, Executive Director of JRG said.

Addressing a press conference, Regi Jacob, managing director thanked the retail investors, NRIs, companies, financial institutions, banks and foreign institutional investors, FIIs, for making the public issue a success. This would probably the first time that FIIs, Mutual Funds, banks and Indian institutions have shown so much interest in such a small issue.

With committed management and substantial investment in technology, the JRG management is highly confident of bringing to the common investor, the best that the country can offer in the investment arena, Regi Jacob said. The company expected the listing to be completed by the third week of May, for commencement of trading at the BSE.

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