IPO Allotment news; Aster Silicates Ltd IPO

Aster Silicates LtdSodium silicate manufacturer – Aster Silicates Ltd is entering into the capital markets with an IPO (initial public offering) , The IPO issue opens on Jun 24, and end for subscription on Jun 28. The company raise Rs 53 crore-through the IPO issue. The firm has fixed a price band of Rs 112- Rs118 Per Equity Share for the IPO.

The company manufacturing sodium silicate which includes food grade sodium silicate special drilling grade silicate & detergent grade silicate. Aster Silicates produce sodium silicate both in glass and liquid form.

The Ahmedabad-based  Aster Silicates will use the proceeds for expand its manufacturing facilities at Baruch in Gujarat. The equity shares of the company will  listed on the BSE NSE.

31-Mar-06, the company has reported profit after tax of Rs 8.61 Lacs (total income of Rs 8.64 Crore). 31-Mar-08, profit after tax of Rs 65.79 Lacs (total income of Rs 16.99 Crore). 31-Mar-09, it has posted profit after tax of Rs 2.54 Crore (total income of Rs 34.09 Crore).

Minimum Order Qty is 50 and Market Lot is 50. Issue Type is Book Building.

Brickwork Ratings India Pvt. Ltd has assigned IPO Grade 2 to the initial public offer this indicating company ‘Below Average Fundamentals’.

Address: A-602 Fairdeal House, Swastik Char Rasta Navrangpura, Ahmedabad – 380009, Gujarat.

Conduct details;

Phone number; 91-79-26422840. Fax detail; 91- 79-26422840.

Email address; ipo@astersilicatesltd.com.

Website Url; http://www.astersilicatesltd.com.

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