Chemcel Biotech IPO Subscription opened to the investors on Tuesday and the IPO Subscription closes on 12th September 2008. Chemcel Biotech has entered the capital market with an IPO of 1.54 lakh equity shares of Rs. 10 each at a premium of Rs. 6 per share.
Chemcel Biotech is engaged in the business of agro-chemicals, and to support its expansion plans the company plans to raise Rs. 24.6 crore from the IPO.
The company plans to use the earnings from the issue to set up a bio-diesel manufacturing unit in Andhra Pradesh. “This plant will be set up in Kondapalli in Andhra Pradesh at a cost of Rs 10.95 crore and will have a capacity of 20 tonnes a day of three shifts.
The company plans to raise Rs 24.6 crore from the issue. The shares of the company will be listed on the Bombay Stock Exchange.
Book Running Lead Manager (BRLM) for the Chemcel Biotech IPO is AllBank Finance and post IPO the company plans to list its shares on the Bombay Stock Exchange.
More informaiton and updates on the Chemcel Biotech IPO Subscription, allotment and listing will be updated here.
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