Asian Granito India Limited to enter the capital market

Mumbai, Feb 13 (UNI) Asian Granito India Limited, manufacturer of a wide range of vitrified tiles proposes to enter the capital market with a public issue of 7,000,000 equity shares of face value of Rs 10 each comprising an employee reservation of 350,000 equity shares of face value of Rs 10 each (the Issue).

The net issue to the public shall be of 6,650,000 equity shares of face value of Rs 10 each. SBI Capital Markets Limited and Enam Financial Consultants Private Limited have been appointed as the book running lead managers for the proposed Issue, the company's release said.

The Company is considering a pre-IPO placement, not exceeding six per cent of the Issue, to certain investors prior to the Issue. If the pre-IPO placement is completed, the net issue would be reduced to the extent of the pre-IPO placement subject to a minimum issue size of 25 per cent of the post issue capital being offered to the public.

The Issue is being made through the 100 per cent book building process where up to 50 per cent of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs), of which not less than five per cent shall be allocated to Mutual Funds.

Further, not less than 15 per cent of the Net Issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35 per cent of the Net Issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid Bids being received at or above the Issue Price.

As many as 350,000 Equity Shares shall be available for allocation on a proportionate basis to the eligible employees subject to valid bids being received at or above the Issue price, the release added.

UNI