Chemcel Biotech IPO opens on 9th September'08

Chemcel Biotech is entering into IPO market on 9th September'08 to raise funds to expand it's capacity and to enter into the bio-diesel manufacturing. Chemcel Biotech is issuing 1.54 Lac equity shares with a face value of Rs.10/- each with a premium of Rs.6 each. Chemcel Biotech is raising Rs.24.64 Crore from the IPO market. It will spend 50% of the issue money to expand the grochemical division and rest will spend for setting up a bio-diesel unit. Chemcel Biotech IPO will close on 12th September'08