29 Apr 07 Binani Cement Limited IPO
Binani Cement Limited is all set to tap the Indian capital markets, with an IPO in May 2007. The IPO opens on 7th May and closes on 10th May. Binani Cement Ltd has set the price band between Rs. 75 and Rs. 85 for the IPO. The shares of Binani Cement will be listed both on the NSE and the BSE. The lead managers of the Binani Cement Limited IPO are ICICI Securities and JP Morgan. The Binani Cement IPO was put on hold and got delayed because of differences between the lead managers on fixing the price band. It is said that JP morgan wanted a price band around Rs.125 per share which was not acceptable with ICICI Securities. The issue is an offer for sale of shares held by JP Morgan. The JP Morgan arm is offloading over 2 crore shares, or over 10% stake, in Binani Cement Ltd , through the IPO. JP Morgan, through its subsidiary JP Morgan Special Situations (Mauritius), holds a 25% stake in Binani Cement. The registrar for the issue is intime spectrum which some people say is “not in time” when it comes to alloting shares and issuing refunds. But I personally feel that its a much better registrar when compared to Cameo Corporate Services. Cameo really sucks!
Binani Cement IPO Prospectus
For more information, read the draft red herring prospectus of the Binani Cement IPO.
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CAN ANYBODY SAY ABOUT THE POTENTIAL OF BINANI CEMENT IPO? AS FAR I KNOW, AS INFRASTRUCTURE IS BOOMING INDUSTURY, THIS IPO SHOULD DO WELL. STAKEFREAKS AND BULLISH ARE INVITED TO THROW LIGHT ON THIS ISSUE.
MITESH
what is the price band ?
Shd apply or not?
Binani IPO Price band is between Rs. 75 and Rs. 85
If you are applying for listing gains apply the 8 rules given in this article
http://www.bullishindian.com/eight-tips-for-retail-investors-for-applying-in-ipo-for-listing-gains/162/
Information Binani Cement Distributor