Indian IPO

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Tuesday, September 18, 2007

Supreme Infra IPO opens on Sep 21, price band Rs 95-108/sh

Supreme Infrastructure is coming out with an initial public offering (IPO) of 34.75 lakh equity shares at a price band of Rs 95-108 per share with 100% book building process.

The company is going to raise at around Rs 33.01-37.53 crore from this issue. The issue will open on September 21 and close on September 26, 2007.

The objects of the issue is to use funds to purchase & upgrade machinery and to meet long term working capital requirement.

Supreme Infrastructure is engaged in road construction, other infrastructure activities and has 10 projects under execution till March 31, 2008.

For H1FY07, it has posted revenues of Rs 21.06 crore and net profit at Rs 3.29 crore.

Karvy Investor Services Limited is the book running lead manager and Bigshare Services Pvt Ltd is the registrar to the issue.

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