Financial Daily from THE HINDU group of publications
Wednesday, Mar 22, 2006


Group Sites

Markets - IPOs
Industry & Economy - Power

Godawari Power fixes IPO price at Rs 70-81

Our Bureau

Mumbai , March 21

Godawari Power and Ispat Ltd, formerly, Ispat Godawari Ltd, is entering the capital market with a public issue of 86,95,000 equity shares of Rs10 each through 100 per cent book building process.

The subscription opens on March 28 and closes on April 4. The price band has been fixed between Rs 70 and Rs 81.

The company hopes to raise about Rs 25 crore from the IPO, which will partly meet the cost of its Rs 173-crore expansion plan.

According to Mr Dinesh Gandhi, Director, Finance, the company has tied with a consortium of banks led by Bank of Baroda to raise Rs 113 crore by way of debt.

The company, engaged in the production of sponge iron, steel billets as also captive power generation, is currently in the process of setting up a new manufacturing plant near their existing one at Raipur in Chhattisgarh.

More Stories on : IPOs | Power

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Holcim not to revise open offer price for Gujarat Ambuja

Fidelity Equity Fund to pay 20% dividend
Gujarat Gas up after analysts' meet
Volatile movement
Maharashtra scraps stamp duty on non-local brokers
MTNL gains on accumulation mode
Low returns post-IPO scaring away investors
Value buying props up JK Lakshmi Cement
Andhra Cements active on JP Morgan plans
Bata India jumps on realty play
Sabre, Abraaj set up $250-m fund for Indian investments
Sensex strolls past 11,000 points
Markets fall off the highs; IT stocks lose sheen
Nitco Tiles lists at 2% premium on BSE
Godawari Power fixes IPO price at Rs 70-81
Tantia Constructions IPO soon
Investors' awareness meet

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line