Manaksia subscribd about nine times for its IPO

Kolkata, Dec 20 (UNI) Led by qualified institutional buyers and retail individual investors, Kolkata-based Manaksia was subscribed about nine times for its Initial Public Offering (IPO).

The price band was fixed between Rs 140.00 to Rs 160.00 a share.

The equity shares of Manaksia, offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

ICICI Securities helped to raise maximum of Rs 2.48 billion via this public issue that closed on Wednesday last.

Manaksia Limited is a multi-division and multi-location company focusing on manufacturing of value added metal products and metal packaging products.

The company intends to use the net pro ceeds of the issue for expansion of metals business by purchasing capital equipment, paying off certain term debts and for general corporate purposes.

UNI