A2Z Maintenance IPOA2Z Maintenance IPO, Dec 08 – Dec 10, 2010, Rs. 400 – 410

Engineering, procurement and construction (EPC) service provider A2Z Maintenance and Engineering Services’ initial public offering (IPO) is set to open for subscription on December 8. The company has fixed a price band at Rs 400-410/share and will close on Dec 10.

It comprises fresh issue of Rs 675 crore by the company and an offer for sale of upto 4,556,193 equity shares of Rs 10 each at the issue price by the selling shareholders. Upto 1 lakh equity shares will be reserved for subscription by employees, who will get shares at 5% to the issue price

The company will not receive any proceeds from the offer for sale. Fresh issue will be used for investment in three biomass (bagasse)-based power cogeneration projects of 15 MW each in the State of Punjab; investment in five biomass-based power generation projects of 15 MW each in the State of Rajasthan; investment in subsidiaries; repayment of a loan granted by L&T Infrastructure Finance Company Limited (L&T Infrastructure Finance) to the company; and working capital requirements.

IDFC Capital Limited, DSP Merrill Lynch Limited, Enam Securities Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are book running lead managers to the issue. Yes Bank is co-book running lead manager.

A2Z Maintenance have been providing services to the power transmission and distribution sector with a focus primarily on the distribution segment.

A2Z Maintenance IPO Allotment Status

IDFC Capital Limited, DSP Merrill Lynch Limited, Enam Securities Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are book running lead managers to the issue. Yes Bank is co-book running lead manager.

Intime Spectrum Securities Limited is the registrar of the issue.

A2Z Maintenance IPO Price Band

Engineering, procurement and construction (EPC) service provider A2Z Maintenance and Engineering Services’ initial public offering (IPO) is set to open for subscription on December 8. The company has fixed a price band at Rs 400-410/share and will close on Dec 10.



The Company and the Selling Shareholders may consider participation by Anchor Investors in accordance with applicable ICDR Regulations on the Anchor Investor Bid/Issue Date, i.e., one day prior to the Bid/Issue Opening Date

The Issue has been graded by Credit Analysis & Research Limited and assigned the “CARE IPO Grade 4” indicating above average fundamentals, through its letters dated October 6, 2010 ad November 19, 2010 and the IPO grading report dated October 19,2010. The Issue is being made through a Book Building Process wherein not more than 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price.

Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

The Equity Shares offered through the Red Herring Prospectus (“RHP”) are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (”NSE”) respectively. BSE is the Designated Stock Exchange for the Offer.

The book running lead managers to the issue are IDFC Capital Ltd, DSP Merrill Lynch Ltd, and SBI Capital Markets Ltd.and SBI Capital Markets Ltd.

Billionaire investor Rakesh Jhunjhunwala has 21% stake in A2Z Maintenance & Engineering Services. Post IPO, Rakesh Jhunjhunwala stake would go to 16%.

A2Z Maintenance IPO Listing Date

Open Date : 08 Dec 2010
Close Dare : 10 Dec 2010
Allotment Date : 20 Dec 2010
Refund Date : 21 Dec 2010
Listind Date : 24 Dec 2010 (Expected)

A2Z Maintenance IPO Details
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