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20 Microns determines issue price at Rs 55/share

20 Microns Ltd has determined the issue price of its initial public offering at Rs. 55, which was in the price band of Rs. 50-55 per share.

26 Aug 2008

20 Microns Ltd has determined the issue price of its initial public offering at Rs. 55, which was in the price band of Rs. 50-55 per share. The issue was subscribed 4.11 times.

With the public issue of 43,50,632 equity shares the company planned to raise Rs. 9 crores. The company plans to use the capital of the issue towards the ongoing expansion of manufacturing capacities at various locations, to invest in the sub-micron particle sizes required by end-market and for general corporate purposes.

Currently, Gujarat Venture Capital Fund has a stake of 43 percent in the company. It will offload a part of its holding which will reduce its stake to 19 per cent of the post-issue equity. The issue will constitute 30.81 per cent of the post issue paid up capital.



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