Wednesday, March 26, 2008

Titagarh Wagons IPO almost fully subscribed

Hi Friends,

Titagarh Wagons IPO almost  fully subscribed at the end of third day of the issue.

Titagarh Wagons Limited IPO subscribed 0.99 times on it's Day 3. The IPO received bids for 23.53 lakh shares as against 23.83 lakh shares on offer.

QIBs: 1.5915
Non Institutional: 0.1710
Retail (RIIs): 0.0722
Total: 0.99

It is primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings. The issue will close on March 27, 2008. The price band is between Rs 540 and Rs 610 per equity share.

IPO money will be used for setting up an EMU manufacturing facility at Uttarpara unit, modernising and expanding the existing facilities at Titagarh and Uttarpara units, setting up an axle machining and wheelset assembly facility at Uttarpara unit, constructing a corporate office and a design cum research and development office. Money will also be used for strategic acquisition or investments and brand building exercise and General corporate purposes.

Click here for more information about Titagarh Wagons Limited IPO, Titagarh Wagons IPO Allotment Status, Titagarh IPO discussions, Titagarh Wagons Limited IPO reviews, Titagarh Wagons News and Titagarh Wagons IPO Listing Date.

Good Luck!