Air-Deccan prices IPO at Rs 150-175; issue to open on May 18

Mumbai: Low-cost carrier Air-Deccan, is coming out with an initial public offering (IPO) with an offer priced at Rs 150 to Rs 175. The Bangalore-based airline plans to raise Rs 400 crore to Rs 432 crore (at the top end of the band) through the issue, which opens on May 18.
The promoters and existing private investors ICICI Ventures and Capital, will hold 75% in the company post-issue. The private equity investors will not be selling part of their stake through the IPO.
The company has appointed Enam Securities and ICICI Securities as its lead managers. Speaking to the media, Air-Deccan CEO Capt Gopinath said the company has decided on a lower price to give a fair value to the shareholders.
“We do not want people to lose money on listing,” he said. The company will begin its roadshow on May 11.
06/05/06 Economic Times

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