Indian IPO

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Wednesday, September 20, 2006

Gayatri Projects IPO opens on Sept 26

Gayatri Projects is planning an IPO which will open on September 26, 2006. The price band for the issue has been fixed between Rs 275 and Rs 295.

Gayatri Projects is an ISO certified company engaged in execution of major civil works including roads and highways, irrigation canals, concrete/masonry dams, ports, etc. It is entering the capital market with an initial public offer of 29,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the book-building process.

The issue comprises of an offer for sale of 19,00,000 equity shares and a fresh issue of 10,00,000 equity shares. The offer for sale is being made by Videocon Appliances Ltd and Videocon Industries Ltd.

The company also proposes to reserve 1,00,000 equity shares for allotment to eligible employees. The offer constitutes 29% of the post issue paid up capital of the company.


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