Max Alert Systems IPO to open on June 28

Max Alert Systems , a Mumbai based project company with focus in areas as diverse as mining, fire fighting systems and telecommunications, is entering capital market with a public issue of 40 lakh equity shares on June 28, 2012. The company aims to raise Rs 8 crore through the issue at fixed price of Rs 20 a share. Equity shares are proposed to be listed on BSE - SME platform. Out of total issue size, 6 lakh shares are reserved for subscription by market makers and the net issue to the public stands at 34 lakh shares. Issue proceeds will be used for setting up of crushing plant (with an outlay of Rs 8.6 crore). Promoters' holding will be reduced from 99.95% to 56.48% post issue. Comfort Securities Limited is the lead manager to the issue.

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