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20 Microns will list on the bourses with its equity shares on October 6, 2008. The isssue price is fixed at Rs 55. The public issue of 43,50,632 Equity shares of Rs 10 each was subscribed 4.29 times.

The issue will constitute 30.81% of the post issue paid up capital of the company. The issue was graded by the Credit Analysis & Research (CARE) and was assigned the IPO Grade 3 indicating Average Fundamentals.

The company intends to utilize the proceeds of the fresh issue in the IPO towards the current ongoing expansion plans of the manufacturing capacities at various locations, invest in the sub-micron particle sizes required by end-market and general corporate purposes.

The equity shares are proposed to be listed on Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd.

Source : MoneyControl

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