Maytas Infra IPO gains momentum on Day 2
Maytas Infra IPO gains momentum on Day 2 Maytas Infra, on day two (Sep. 28, 2007) received a robust response for its IPO. >The issue which is slated to close on Oct. 04, 2007 got subscribed 0.67 times. Price band for the issue is fixed at Rs 320 to Rs 370 a share The offer received bids for 5,891,940 shares, against 8,850,000 shares offered, according to the data available on NSE and BSE stock exchanges. While DSP Merrill Lynch and JM Financial Consultants are the book running lead managers for the issue, Kotak Mahindra Capital is the co-book running lead managers. Karvy Computershare is the registrar to the issue. The company is involved in construction and infrastructure development. The business of the company is organised into two parts viz. construction on a contract basis and infrastructure development which involves identifying, sourcing, developing, and operating projects in infrastructure sectors. The com pany intends to allocate the issue proceeds for investment in associate companies, purchase of construction equipment, general corporate expenses and issue expenses. The shares of the company are proposed to be listed at the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
