Friday, April 30, 2010

TARA HEALTH FOODS LIMITED: POOR REPONSE TO IPO. EXTENDS CLOSING DATE, REDUCES PREMIUM

Northern India focused oil and cattle/poultry feed Company's IPO received bids for 2.88lacs shares against the offer of 85lacs shares. The company proposes to issue shares of Rs10 face value in the price band of Rs 180-190. The issue constitutes 33.28% of the fully diluted post issue paid up capital. The issue which opened on 28-04-10 and was supposed to close today. Atherstone Capital Markets Limited-Book Running Lead Manager to the issue has informed the Exchange that the Book Building issue of TARA HEALTH FOODS LIMITED will close on May 05th,2010 instead of the earlier closing day on Apr 30th,2010.Further price band has been revised from Rs 180/- to Rs 190/- per share to Rs 175/- to Rs 185/- per share.

FIRST CHOICE HAS RECOMMENDED TO STAY AWAY FROM THE ISSUE.

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