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Manganese Ore India Limited facility visit at Nagpur
November 16th, 2010
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Retail Investor Limit raised to Rs 2 lakhs
November 16th, 2010
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SEBI has notified that the limit for retail investors has been raised to Rs 2 lakhs. This limit was earlier Rs 1 lakh. This will help issues going forward and would be a big help in the divestment programme of the Government which has a large number of issues lined up one after the other.
SEBI has also made it mandatory for companies to announce the filing of their Draft Offer documents by way of a Public Announcement.
Gravita India IPO to list on Tuesday 16th November
November 15th, 2010
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Gravita India Limited which had tapped the capital markets with its IPO in a price band of Rs 120-125 is to list on Tuesday the 16th of November. The company had issued 36 lakh shares and raised Rs 45 crs. The issue was open between the 1st and 3rd of November. The issue was very well received and was subscribed an overall 42.88 times. The HNI portion created a record of oversubscription being subscribed 182.52 times. The retail portion was subscribed 37.34 times.
The basis of allotment has been finalised and retail investors who applied for the maximum of 800 shares have been allotted 50 shares but in the proportion of 37:84 which means out of 84 applicants for 800 shares, 37 have been allotted 50 shares each.
It would be interesting to see how this share fares on listing tomorrow. The company would have a listing ceremony at the BSE tomorrow.
