Sunday, 16 Jan 2011
The company, which the market values at USD 12.43 billion, has fixed a price band of INR 594 to INR 610 for the share sale, the company said in a statement.
The price band represents a discount of 1.9% to 4.5% to the stock's closing price of INR 621.70 on Friday.
The issue for 57 million shares will open on January 19 and close on January 21. The anchor book will open and close on January 18.
The company said it would use INR 18.75 billion (USD 413 million) of the money to be raised to fund expansion at its Jamshedpur plant in eastern India.
Part the share sale money will also be used to repay debt of INR 10.9 billion.
Sourced:Reuters
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment