Friday, 18 February 2011

Sudar Garments Ltd issues IPO

Sudar Garments Ltd is a leading manufacturer and exporter of garments such as Shirts, Trousers and wide range of Apparels. The company is established in 2002. It has a large manufacturing set ups in Maharashtra and now the products are under the brand name of Glory to Glory. They are  planning to introduce two more brand names called St. Paul and Majesty.

The Company, Sudar Garments Ltd issues Initial Public Offerings (IPO) of 9088000 equity shares with the face value of Rs. 10 each. This is a Book Building IPO with a bid price in the range of Rs.72 to Rs. 77 per share. The minimum bid size is 81 equity shares. The issue size in Rupees is Rs. 65.43 Crore to 69.98 Crore. The IPO opens on 21st February, 2011 and closes on 24th February, 2011.

Out of the total number of shares, 4544000 shares are allocated for Qualified Institutional Investors (QIB), 1363200 shares are allocated for Non Institutional Investors and the remaining 3180800 shares are allocated for Retail Investors.

With the capital accumulated by this issue they wish to expand the existing apparel manufacturing unit, use as working capital and also for setting retail outlets and brand building.

The shares will be listed in BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). The Book Running Lead Manger (BRLM) is Ashika Capital Limited and the Registrar of the issue is Link Intime India Pvt. Ltd. Issuing Bankers are HDFC and Axis Bank.

Hope that this IPO will be accepted by the investors open heartedly and those who wish to invest in garment sector, this is a good opportunity.

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