A2Z Maintenance
PriceRs.400
Tuesday, December 28, 2010
The initial public offering of A2Z Maintenance and Engineering will open on December 8. The company is planning to raise about Rs 860 crore through the issue. The issue comprises a fresh issue of equity shares aggregating to Rs 675 crore and an offer for sale of 45.5 lakh shares by the selling shareholders.
The price band for the issue has been fixed at Rs 400-410 a share. Proceeds from the issue will be used to invest in a biomass-based power generation project as well as for capital expenditure and repayment of a loan granted by L&T Infrastructure Finance Company.
The issue will close on December 10. It offers for sale of upto 4,556,193 equity shares of Rs 10 each at the issue price by the selling shareholders.
The qualified institutional bidders have been allotted 50 per cent of the shares, retail 30 per cent and HNI 10 per cent.
A2Z Maintenance and Engineering is an engineering, procurement and construction company, which has been providing services to the power transmission and distribution sector with focus primarily on the distribution segment.
The book running lead managers to the issue are IDFC Capital, DSP Merrill Lynch, Enam Securities, ICICI Securities and SBI Capital Markets. The Co-Book Running Lead Manager is Yes Bank.
Mr Rakesh Jhunjhunwala, a high net worth investor, who owns 25 lakh shares in the company (30 per cent stake), is selling 5 lakh shares through the issue. He said that when he invested in the company in 2006, he had bought the shares below Rs 14 apiece.
The price band for the issue has been fixed at Rs 400-410 a share. Proceeds from the issue will be used to invest in a biomass-based power generation project as well as for capital expenditure and repayment of a loan granted by L&T Infrastructure Finance Company.
The issue will close on December 10. It offers for sale of upto 4,556,193 equity shares of Rs 10 each at the issue price by the selling shareholders.
The qualified institutional bidders have been allotted 50 per cent of the shares, retail 30 per cent and HNI 10 per cent.
A2Z Maintenance and Engineering is an engineering, procurement and construction company, which has been providing services to the power transmission and distribution sector with focus primarily on the distribution segment.
The book running lead managers to the issue are IDFC Capital, DSP Merrill Lynch, Enam Securities, ICICI Securities and SBI Capital Markets. The Co-Book Running Lead Manager is Yes Bank.
Mr Rakesh Jhunjhunwala, a high net worth investor, who owns 25 lakh shares in the company (30 per cent stake), is selling 5 lakh shares through the issue. He said that when he invested in the company in 2006, he had bought the shares below Rs 14 apiece.
