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Swajas Air Charters cuts IPO price band to Rs 84-90/sh
Bad market conditions forced the Swajas Air Charters, an air charter services provider, to reduce the IPO price band to Rs 84-90 from earlier Rs 90-100 a share. The company also extended the closing date to October 5 from September 28, 2011.
Bad market conditions forced the Swajas Air Charters , an air charter services provider, to reduce the IPO price band to Rs 84-90 from earlier Rs 90-100 a share. The company also extended the closing date to October 5 from September 28, 2011.
Chennai-based non-scheduled airline operator servicing a fleet of fixed-wing aircraft and helicopters across India aims to raise Rs Rs 37.5-crore through the issue.
Company intends to use issue proceeds for the fleet expansion; setting up of MRO/Hangar facility; purchase of office building / space; and working capital requirements.
Aryaman Financial Services Ltd is the book running lead manager to the issue.
