Transwarranty Finance Limited, a professionally managed financial services and investment banking company is entering the capital market on 23 January, 2007. The Price Band is between Rs 48 to Rs 55 and the company proposes to list the equity shares on the BSE and NSE. The Issue Closes on 2 February, 2007. IDBI Capital Market Services Limited is the Sole Book Running Lead Manager to the IPO.
The Company proposes to offer 6,000,000 equity shares of Rs. 10 each for cash at a premium. The Issue comprises a Net Issue of 5,900,000 equity shares to the public and a reservation of 100,000 equity shares for eligible employees. The Issue would constitute 42.86%of the post Issue paid up capital of the Company.
The Issue is being made through 100% Book Building Process wherein at least 50% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders. 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, 15% of the Net Issue shall be available for allocation on a proportionate basis to non-institutional Bidders and 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders.
The Issue is being made to raise funds for expansion and increasing the scale of operations, geographic expansion through opening of regional offices, making strategic investments or acquisitions of companies engaged in the business of financial services and/or banking.
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