Simplex Projects to tap capital market
Friday, June 13th, 2008Integrated engineering and construction service provider Simplex Projects Ltd is to enter the capital market with an initial public issue of 30-lakh equity shares of Rs 10 each in the price band of Rs 170-Rs 185 through a 100 per cent book building process. The issue opens on July 10 and closes on July 13. The net issue will constitute 25 per cent of the fully diluted post issue paid up capital of the company.
No more than 50 per cent of the net issue will be available for allocation on a proportional basis to qualified institutional buyers. Five per cent of the QIB portion is for allocation on a proportionate basis to mutual funds only.
The remainder is for allocation on a proportionate basis to QIBs and mutual funds.
Further, not less than 15 per cent of the net issue will be available for non- institutional bidders and not less than 35 per cent of the net issue will be available for allocation on a proportionate basis to retail individual bidders.
