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POY maker Raj Rayon fixes price band for public issue
28 Dec '05
1 min read
Partially Oriented Yarn (POY) producer Raj Rayon Ltd informed that the company has fixed the price band at Rs55-65 for its public offer of 85 lakh equity shares.
The company is planning to raise about Rs46-55 crore through the issue.
The Board of Directors (BOD) at its meeting held fixed the price band of Rs55 at the lower-end and Rs65 at the upper-end for the issue of 85 lakh shares of Rs10 each to be offered at a price determined through the book-building process, the company informed the bourses.
The company is likely to raise Rs46 crore at Rs55 per equity share and Rs55 crore at Rs65 per share, it said.
The issue price will be 5.5 times the face value at the lower end of price band and 6.5 times of the face value at the higher end of price band.
The company is planning to raise about Rs46-55 crore through the issue.
The Board of Directors (BOD) at its meeting held fixed the price band of Rs55 at the lower-end and Rs65 at the upper-end for the issue of 85 lakh shares of Rs10 each to be offered at a price determined through the book-building process, the company informed the bourses.
The company is likely to raise Rs46 crore at Rs55 per equity share and Rs55 crore at Rs65 per share, it said.
The issue price will be 5.5 times the face value at the lower end of price band and 6.5 times of the face value at the higher end of price band.
The Economics Times
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