Innoventive's Rs 220 cr IPO to open on April 26

Posted By: Religare
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Innoventive's Rs 220 cr IPO to open on April 26
An announcement has been made by leading steel manufacturer Innoventive Industries that it is planning to raise an amount worth Rs. 220 crore via initial public offerings. The company informed that the issue will open on April 26, 2011.

For the qualified institutional buyers (QIB) which are anticipated to be allotted up to 50% of the issue size, the issue will close on April 28, 2011. However, for the retail investors, the issue will be open till April 29, 2011. The book running lead managers include Axis Bank and Avendus Capital.

The Standard Chartered Bank in the month of February invested a sum worth Rs. 30.4 crore in the company. The company is looking forward to expand itself in terms of its production capacity and has hence planned to raise capital through public offerings.

Read more about: ipo, qib, shares, investment
Story first published: Thursday, April 21, 2011, 12:31 [IST]
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