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Monday, November 15, 1999
HCL revises IPO offer price to Rs 500-580 band
ENS ECONOMIC BUREAU
MUMBAI, NOV 14: HCL Technologies Ltd, which is scheduled to kick-off its initial public offer (IPO) through book-building route on November 16, today revised its indicative price band upwards to Rs 500-580 per share from the earlier range of Rs 450-540. Each share will have a face value of Rs 4.In a statement, the company said the price band was revised based on the encouraging response to the road shows of the company and the advise of lead managers to the issue. Based on the revised price range of the issue, the size ranges between Rs 710 crore and Rs 823 crore, against Rs 639 crore to Rs 767 crore earlier, it said. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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