Asian Granito India, a manufacturer of vitrified tiles plans, is open for subscription with an IPO of 70 lakh equity share of Rs 10 each through a 100 per cent book building issue.
The price band has been fixed at Rs 85-102 per equity share. Consolidated FY 2007 EPS on post-issue equity workout to Rs 10.9. At the offer price band of Rs 85 – Rs 102, the P/E range works out to 7.8-9.3, respectively.
The company plans to utilise the issue proceeds to set up a wall tile unit as well as for modernisation and expansion of its existing vitrified tile plant at a total investment of Rs 61.37 crore.
Grey market premium of Asian Granito is between 28 to 30.
The price band has been fixed at Rs 85-102 per equity share. Consolidated FY 2007 EPS on post-issue equity workout to Rs 10.9. At the offer price band of Rs 85 – Rs 102, the P/E range works out to 7.8-9.3, respectively.
The company plans to utilise the issue proceeds to set up a wall tile unit as well as for modernisation and expansion of its existing vitrified tile plant at a total investment of Rs 61.37 crore.
Grey market premium of Asian Granito is between 28 to 30.
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