Avon Weighing Systems

[frank]

Avon Weighing Systems, a company engaged in the business of selling weighing systems in India, will open for subscription today with a public issue of 1,37,33,033 equity shares of Rs 10 each at par aggregating to Rs 1373.30 lakh. This comprises of promoters’ contribution of 38,96,633 equity shares aggregating to Rs 389.66 lakh, leaving a net offer to the public of 98,36,400 equity shares aggregating Rs 983.64 lakh constituting 59.33% of the post issue paid-up capital of the company.

The issue closes on June 12, 2008. CARE has assigned “IPO Grade 2” to the issue. The equity shares are proposed to be listed on BSE.