Gemini Engi-Fab

Gemini Engi Fab scraps ‘IPO worth Rs 44 crore’

Gemini Engi Fab scraps ‘IPO worth Rs 44 crore’ Mumbai-based Gemini Engi-Fab, engaged in manufacturing and salvaging of process equipments through fabrication for various process, has decided to call off its initial public offer on Monday, a day before its scheduled opening.

The Rs 44-crore issue was slated to open on February 3 and close on Friday 6. The company had proposed to offer 5.5 million equity shares of Rs 10 each at Rs 75 to Rs

Gemini Engi-Fab IPO to open on February 3

Gujarat-based Gemini Engi-Fab, is entering the capital market on 3rd February 2009 with a public issue of 55 lakh equity shares of Rs 10 each, through 100% book building process.

The issue would constitute 46.40% of the fully diluted post issue paid-up capital of the company. The price band has been fixed at Rs 75 to Rs 80 for every share of Rs 10 each and the issue would close on Feb. 6, 2009.