Samruddhi Realty IPO to open on March 28

The 21.7 lakh equity shares' IPO of Samruddhi Realty, a flagship company of Samruddhi Group, is going to open for subscription on March 28, 2013.

The price band for the issue is fixed at Rs 12 per share and bids can be made for minimum of 10,000 shares & in multiples of 10,000 shares thereafter. Minimum investment amount for retail investors is Rs 1.20 lakh. The issue will close on April 03, 2013. The company intends to use issue proceeds for partial repayment of long term loans. Equity shares are proposed to be listed Bombay Stock Exchange under SME platform. Hem Securities is the lead manager to the issue.