First Winner Industries IPO

A new IPO is set to hit the Indian stock markets. The IPO or initial public offering belongs to First Winner Industries which are in the business of Grey Fabric Manufacturing.
What is the size of the First Winner IPO?
The First Winner IPO is expected to raise around 70 crore rupees from the IPO.

What is the price band or price range of the First Winner IPO?
The First Winner IPO shares are priced between Rs. 120 and 130 per share.

What are the opening dates for the First Winner IPO?
The the First Winner IPO will remain open from 9th June 2008 to 12th June 2008.

Where will the First Winner IPO proceeds be used?
The capital raised from the First Winner IPO will be used for multiple purposes. The company plans to diversify and expand its business by setting up a new apparel manufacturing facility and weaving unit at Tarapore in Thane in Maharastra.
The money will also be used to repay the debt of the company.
"We have decided to set up a new apparel manufacturing facility with a production capacity of 5,000 pieces of men's wear shirts per day at an estimated cost of Rs 12.03-crore," the company's non-executive independent director, Anil Gupta, told reporters.
The money raised through the IPO would also be used to fund a new weaving unit aimed to increase company's existing production capacity to 170 lakh meters per annum at an estimated cost of Rs 21.53 crore.
The company also has plans to make repayment of its term loans amounting to Rs 18 crore through the issue proceeds.

How many shares will be offered for sale through the First Winner IPO? The First Winner IPO will sell around 55,00,000 equity shares of face value Rs 10 each. Final price will be decided by a 100% book building process.

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