VGuard IPO Subscription begins on 18th Feb

VGuard IPO is all set to enter the capital markets on 18th February with an offering of 8 million equity shares . Out of the available 80 lakh equity shares, employees reservation is fixed at 4 lakh equity shares so the net issue to the public is 76 lakh equity shares. Vguard IPO price band has been fixed at Rs. 80 on the lower end and Rs. 85 on the higher end of the issue. VGuard Industries is a cochin based electronic brand company which manufactures and markets Motors, Stabilisers and other Electronic items. VGuard has good marketing network in the south with over 7500 retailers serving through more than 100 distribution centres. V-guard IPO funds are proposed to be used for establishing new manufacturing units at Coimbatore and Uttaranchal.

VGuard IPO has been graded by CRISIL and the agency has assigned IPO Grade 3, which indicates average fundamentals of the Vgaurd IPO. Book Running Lead Manager to the issue is Anand Rathi and the issue is proposed to be listed on the BSE and NSE. Vguard IPO Subscription closes on the 21st of February, 2008 and being a small issue it should get good investors response. More updates and information on Vguard IPO Subscription and VGuard IPO Allotment will be posted here.