Timken India gains on strong response for private placement issue

Resource from: Business Standard Likes:200

Apr 08,2013

Timken India is trading higher by 3% to Rs 156, extending its previous day’s about 5% rally, after the company said it has received a strong response for its institutional private placement issue. The issue was subscribed by over five times. “The company has received applications for 21.9 million equity shares against 4.26 million shares offered in the issue,” Timken India said in a filing. The US-based specialised steel company has fixed the issue price at Rs 120 per share, at the upper end of the price band of Rs 115-Rs 120 per share. The move was to comply with SEBI’s minimum public holding norms. As on December, the promoter’s held 80.02% stake in the company. The stock opened at Rs 153 and hit a high of Rs 158 on NSE. A combined 146,975 shares have changed hands on the counter so far on NSE and BSE.

(Business Standard)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Seco Tools moves custom machine tool unit to headquarters facility
Next NTN Exhibits at International Industrial Tradeshow “Hannover Messe 2013”

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.