GNA Axles to make its debut on September 26
Shital Jibhe / 24 Sep 2016
GNA Axles which is engaged in the business of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India, is all set to make its stock market debut on September 26.
GNA Axles which is engaged in the business of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India, is all set to make its stock market debut on September 26.
Company opened its public offer on September 14, 2016 to raise Rs 130 crore at a price band of Rs 205-207 per share saw a good response and was oversubscribed 54 times. The reserved portion of qualified institutional investors was oversubscribed 17.18 times and non-institutional investors 217.47 times. The reserved category of retail investors was oversubscribed 11.84 times.
Company will utilise the money raised to purchase plant and machinery, towards working capital requirements and other general corporate purposes. PNB Investment Services Limited and Ambit Private Limited are the Book Running Lead Managers (“BRLMs”) to the Issue. The Registrar to the Issue is Link Intime India Private Limited. The equity shares of GNA Axles Limited are proposed to be listed on NSE and BSE.
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