BGR Energy Systems IPO opens December 5,2007
BGR Energy Systems Limited, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, and a provider of turnkey engineering project services engaged in engineering, manufacturing, procuring, constructing and commissioning projects in the power and oil & gas sectors, proposes to enter the capital markets on 5th December 2007 with a public issue of 9,136,000 equity shares of Rs 10 each through 100% book building process. The Issue will consist of a fresh issue of 4,320.000 equity shares and an offer for sale 0f 4,816,000 equity shares by Mr. B.G. Raghupathy and Ms. Sasikala Raghupathy (The selling shareholders). The Issue closes on 12th December 2007 and the price band has been fixed at Rs 425 to Rs 480 per equity share.
The net issue to the public will be 8,636,000 equity shares after allowing for reservation of up to 500,000 equity shares for eligible employees. The issue would constitute 12.69% and the net issue will constitute 11.99%. of the fully diluted post issue paid-up capital of the company. SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers (BRLMs) for the Issue.
The Company proposes to utilize the net proceeds of the Issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes. The Company proposes to list the equities on the NSE and the BSE.
BGR Energy Systems Ltd has entered into agreements dated November 6, 2007 with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares. The Company proposes to complete the above transaction after the closing of the Bidding / Issue Period and before the allotment of Equity shares in the Issue to successful Bidders. Upon the determination of the Issue price, the objects of the Issue will be reduced to the extent of moneys raised from the of 2,880,000 equity shares placement.
Source MoneyControl
The net issue to the public will be 8,636,000 equity shares after allowing for reservation of up to 500,000 equity shares for eligible employees. The issue would constitute 12.69% and the net issue will constitute 11.99%. of the fully diluted post issue paid-up capital of the company. SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers (BRLMs) for the Issue.
The Company proposes to utilize the net proceeds of the Issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes. The Company proposes to list the equities on the NSE and the BSE.
BGR Energy Systems Ltd has entered into agreements dated November 6, 2007 with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares. The Company proposes to complete the above transaction after the closing of the Bidding / Issue Period and before the allotment of Equity shares in the Issue to successful Bidders. Upon the determination of the Issue price, the objects of the Issue will be reduced to the extent of moneys raised from the of 2,880,000 equity shares placement.
Source MoneyControl
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