Gokul Refoils and Solvent will close for subscription tomorrow, May 13, 2008. The issue got subscribed 0.54 times, till 5 pm as per NSE website, and received bids for 38.67 lakh shares as against initial public offering (IPO) of 71,58,392 equity shares of face value Rs 10 each. The price band for the issue is at Rs 175 to Rs 195 per equity share.
The net issue to the public comprises of 70,83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14% of the fully diluted post issue paid up equity share capital of the company.
Gokul Refoil is primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The company’s manufacturing facilities at Sidhpur, Gandhidham & Surat, have the ability to provide comprehensive range of oil products.