27 February 2011

Sudar Garments Initial Public Offerings (IPO) fully subscribed: Stock Price, date, allocation, allotment, subscription, status and prospectus

The initial public offer (IPO) of Sudar Garments was subscribed 1.55 times. The issue closed on Thursday, 24 February 2011. The IPO received bids for 1.41 crore shares compared with 90.88 lakh shares on offer.
Non institutional investors portion was subscribed 4.47 times, while the qualified institutional buyers and retail individual investors categories were subscribed 0.17 times and 2.27 times, respectively.

The company had offered shares in the price band of Rs. 72-77. The issue constitutes 49% of the fully diluted post-issue paid up capital of the company.
The proceeds of the issue will be used for expansion of the existing apparel manufacturing unit at Khalapur in Maharashtra, working capital requirement and setting up retail outlets and brand building. Besides, Sudar Garments plans to develop in-house capabilities for its marketing activities
Sudar makes garments for men, women and children for the export and domestic markets.
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