IPO Centre For other details, refer IPO Diary Thursday, May 10, 2012 17:41 Hrs IST

IPO Diary

Print this page
Send this page to a friend


IPO NEWS

Plastene India IPO subscribed 24%

Gets bids for 22.05 lakh shares

Plastene India's initial public offer (IPO) received bids for 22.05 lakh shares by 16:00 IST on the second day of bidding for the issue today, 10 May 2012, data on NSE showed. The IPO was subscribed 24%. The company has fixed IPO price band of Rs 81 to Rs 84 per share.

The initial public offer (IPO) will close on 15 May 2012. The proceeds from issue of shares will be used by the company for expansion of manufacturing facilities and purchase of plant and machinery for manufacturing of new product, block bottom valve bags at Nani Chirai, amounting to Rs 49.34 crore; expansion of manufacturing facilities at Rajpur, amounting to Rs 28.07 crore; and for general corporate purpose.

The company's consolidated net profit stood at Rs 10.95 crore on net sales of Rs 382.51 crore for ten months ended January 2012.

Plastene India, promoted by Champalal G. Parekh, Prakash Parekh and Madhu P. Parekh, is engaged in the integrated business of manufacturing Jumbo bags, woven sacks (comprising of laminated woven sacks and BoPP laminated woven sacks), flexible packaging (comprising of printed laminates, preformed pouches, surface printed three-layer films and liners), woven fabric, tarpaulins and other products mostly used in self consumption which comprises of UV master batch, anti-fab master batch, multifilament yarn and webbings.

Previous Stories
Other Stories
4  PNC Infratech sees poor debut (26-May 16:06 Hrs IST)
4  UFO Moviez India settles with 4.1% discount (14-May 16:11 Hrs IST)
4  PNC Infratech IPO subscribed 1.56 times (13-May 11:31 Hrs IST)
4  PNC Infratech IPO oversubscribed (12-May 16:52 Hrs IST)
4  PNC Infratech IPO subscribed 14% on day two (11-May 16:47 Hrs IST)
4  PNC Infratech IPO subscribed 1% on day one (8-May 17:09 Hrs IST)
4  PNC Infratech gets anchor investors (8-May 11:10 Hrs IST)
4  PNC Infratech IPO to open on 8 May (6-May 17:09 Hrs IST)
4  MEP Infrastructure Developers settles with 3.25% discount (6-May 16:21 Hrs IST)
4  UFO Moviez India IPO subscribed more than 2 times (2-May 11:43 Hrs IST)
Next4