V-Guard Industries IPO Opens on 18th Feb with Price band of Rs 80-85
V-Guard Industries, engaged in the manufacturing of electrical and electronic products, set a price band of Rs 80 to Rs 85 a share for its forthcoming initial public offer (IPO) of 8 million equity shares of Rs 10 each. VGuard IPO has decided to enter the capital markets on 18th February. The net issue to the public comprises of 7.6 million equity shares and 400,000 equity shares have been reserved for the employees.
The issue will constitute 26.80% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares is Rs 10 and the floor price is 8 times of the face value and the cap price is 8.5 times of the face value. The company will raise Rs 680 million at the upper end of the price band.
CRISIL has assigned a CRISIL IPO Grade 3/5 to the proposed initial public offering of V-Guard Industries.
During the year 2006-07, V-Guard achieved a total turnover of Rs. 22227.48 lakhs. The Sales of the Company has grown from Rs. 11061.46 Lakhs as on March 2003 to Rs. 22227.48 Lakhs as on March 2007 at a CAGR of 19.06 %. The Company has been making profits and been paying dividends consistently since last 5 years. The Profit after tax of the Company has grown from Rs.489.97 Lakhs on March 2003 to Rs.1349.69 Lakhs in March 2007 at a CAGR of 28.83 %
Anand Rathi Securities Limited is the Book Running Lead Manager to the IPO and Intime Spectrum Registry Limited is the registrar to the issue.
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[...] Industries has fixed the issue price at Rs 82 per equity share. If you have read here before that the IPO issue price was between Rs 80 and 85. The company had come out with a public issue of [...]