Friday, June 18, 2010

Aster Silicates Ltd IPO opening on Jun 24 to Jun 28,

Aster Silicates Ltd is entering in the capital markets with an initial public offering, IPO of for cash agreegating upto Rs. 5,310 Lacs, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 112/- at lower level and Rs 118/- at upper level for equity share of Rs 10/-.

Incorporated in 1996, Aster Silicates Ltd is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. Aster Silicates produce sodium silicate both in glass and liquid form. Food grade sodium silicate is used in the manufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt, cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drilling grade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields. The sodium silicate manufactured by Aster is also used in water-proofing, infoundries and for investment casting, paper, silica gel, textiles and detergents.

The issue opens on Jun 24, 2010, and closes for subscription on Jun 28, 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Click on the below link for detail information about Aster Silicates Ltd IPO