Global Vectra fixes issue price at 185

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Global Vectra Helicorp, one of India's largest dedicated offshore transportation services helicopter company, has fixed its issue price at Rs 185 per share, as per press release.
 
The company entered the capital market with its initial public offer, IPO of 35,00,000 equity shares of Rs 10 each comprising a fresh issue of 28,00,000 equity shares by the company and an offer for sale by Azal Azerbaijan Aviation of 7,00,000 equity shares for cash at a price band of Rs 175 and Rs 200 and the issue was oversubscribed by 3.59 times.
 
The issue was open for subscription between September 29 and October 6, 2006. The issue constituted 25% of the fully diluted post issue equity capital.
 
The issued attracted applications for 1,09,67,700 equity shares from qualified institutions buyers, and applications for 13,56,300 equity shares in the retail individual investors category.
 
The shares will be listed on the Bombay Stock exchange and National Stock Exchange. The book running lead manager to the issue is SBI Capital Markets.