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Mar 23, 2010, 05.07 PM | Source: Moneycontrol.com

Microsec Financial Services plans IPO, files DRHP

Microsec Financial Services, has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offer offering (IPO) of 12,500,000 equity shares of Rs 10 each. The issue will constitute 39.30% of the post issue paid up capital of the company.

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Microsec Financial Services plans IPO, files DRHP

Microsec Financial Services, has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offer offering (IPO) of 12,500,000 equity shares of Rs 10 each. The issue will constitute 39.30% of the post issue paid up capital of the company.

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Microsec Financial Services plans IPO, files DRHP
Microsec Financial Services, has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offer offering (IPO) of 12,500,000 equity shares of Rs 10 each. The issue will constitute 39.30% of the post issue paid up capital of the company.

The issue, which will be through a 100% book building process wherein not more than 50% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers. Also, not less than 15% of the issue will be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue will be available for allocation on a proportionate basis to retail individual bidders.

SBI Capital Markets is the sole book running lead manager and Link Intime India Pvt. is the registrar to the issue.

Microsec has an integrated business model providing various financial products and services to their target client base of retail investors, high net worth individuals, companies and institutions. With an experienced senior management and people partnership model the group has been able to create a strong regional base with an emerging pan India presence. “Microsec” is a well-recognized brand, especially in eastern India with adequate base of research delivery capabilities.

The company intends to utilize majority of the proceeds towards the expansion of its financing business. The company is also raising funds to expand its network of branches and enhance existing technological capacities of the broking business.

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Microsec Financial Services plans IPO, files DRHP

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