Based on the bids received during book-building the price has been finalised at Rs 120 per share, which is the upper end of the price band of Rs 100-120 per share. Retail investors for the fixed price portion of the issue would also be offered the shares at the same rate. The book-building portion of the issue consisted of 99,37,500 shares of face value Rs five each.

The fixed price issue opens on February 4. Incidentally, this is the first book-built issue where 75 per cent of the issue was offered through the book building route, while remaining 25 per cent was reserved for the retail investors in order to broad-base the investor profile. The company is in the business of plastics packaging. According to the merchant bankers associatedwith the issue the response to it all the remarkable as is it a non-IT company. The book-running lead manager was DSP Merrill Lynch while Khandwala Securities was the syndicate member.