Thursday, September 08, 2011

Application Withdrawal Option of Vaswani Industries IPO for Investors

Vaswani Industries IPO finally offers application withdrawal option to its investors. This withdrawal option will remain open for a period of ten (10) days from September 01, 2011 till September 10, 2011.

The notice published by company says:
In compliance with the directions given by SAT in its aforesaid Order, our Company hereby gives an option only to Retail Individual Investors (‘RIIs’), who have participated in our IPO, who may, if they so desire, withdraw their applications in the Retail Individual Investors’ category for the number of shares specified in the table given below in their respective categories under the heading “Excess Allotment entitled for withdrawal option” i.e. the number of shares, by which the allotment ratio was impacted due to exceptionally abnormal withdrawals in the Non-Institutional Category (NII) category. The Book Running Lead Manager (BRLM), Ashika Capital Limited, has carried out the computation for the number of shares to be offered for withdrawal option in consultation with the Registrar to the Issue (RTI) and the category-wise details for the withdrawal option is given in below notice.