Gyscoal Alloys Fixed IPO Price At Rs 71 Per Share

Gyscoal Alloysstainless steel manufacturer- Gyscoal Alloys has fixed IPO price at Rs 71, The ipo price band at Rs.65 (low) to Rs.71 (high). The firm has increased Rs 54.67 cr via initial public offer of 77 lakh equity shares.

The issue, that had open on subscription during Oct 13-15, and had been subscribed 8.59 times. NIIs’ booked part got subscribe 33.44 times followed by retail and QII (qualified institutional investors) with 8 times and 1.54 times, respectively. The issue constituted 48.65percent of the completely diluted post issue paid-up capital of the firm.

Gyscoal makes various levels of Stainless Steel products ranging in between 200 series to 400 series. It’s been exporting numerous products to varied nations such as Philippines, Malaysia, Thailand, Kenya etc.

IPO Issue proceeds are planned for use for capital outlay for improving the development capability of melting area by 100,000 MT per year as well as long-term working capital needs

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Gyscoal makes various levels of Stainless Steel products-ipo listing details and subscriptions details and Indian initial public offering news

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