Aqua Logistics, the supply-chain firm, has fixed the issue price of in its initial public offer (IPO) at Rs 220 a share.
Meanwhile, the company has offered a discount of Rs 5 to eligible retail investors who would be alloted shares.
The company would make a public issue of 68,72,852 shares of Rs 10 each at a price of Rs 220 per shares for non- institutional and QIB bidders while Rs 215 per equity share for the retail investors, aggregating up to Rs 150 crore, Aqua Logistics said in a public announcement.
After the company lowered its IPO price band and also extended its closing by three days, the company’s maiden issue last month managed to get fully subscribed.
The company had hit the primary market with an IPO of 75 lakh equity shares on January 25 under the price band of Rs 220-230.
However, later it revised the price band downwards to Rs 200-225 a piece as it received lukewarm response from investors.
Also after extending the issue by three days, the company received bids more than 1.4 crore equities, thereby getting subscribed 1.94 times.
Aqua Logistics’ shares would be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company would utilize the IPO proceeds for purchasing specialized equipment as well as expansion and establishment of offices and for proposed acqusitions, the company’s Vice-Chairman M S Sayad told.
The book running lead managers to the issue are Saffron Capital Advisors and Centrum Capital Ltd while Link Intime India is its registrar.
Aqua Logistics is a logistics and supply-chain company with domain expertise in pharma, automotives, power, retail, heavy engineering, telecom and sports and events.
The company registered an income of Rs 214 crore and a Profit After Tax (PAT) of Rs 9.83 crore in financial year 2009.
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