GSCL to raise Rs 26.4 cr from FPO
Calcium carbonate producer, Gulshan Sugars and Chemicals Ltd (GSCL) will raise Rs 26.4 crore from its follow-on public issue.
By PTI |
NEW DELHI: Calcium carbonate producer, Gulshan Sugars and Chemicals Ltd (GSCL) will raise Rs 26.4 crore from its follow-on public issue.
The company's board, in its meeting held on October 20, fixed the issue price for its follow-on public issue (FPO) at Rs 40 per share, GSCL said in a statement.
The company proposes to issue 66 lakh equity shares of Rs 8 each for cash at a premium of Rs 32.
The issue would constitute 51.51 per cent of the fully diluted post-issue paid up capital of the company.
The sole lead manager for the issue is SREI Capital Markets Ltd.
GSCL is presently setting up a new unit at the existing facility at Muzzafarnagar, Uttar Pradesh for expanding its capacity by 20,000 tonnes per annum to manufacture ground calcium carbonate to cater specifically to the paper industry.
After expansion, the company would have a capacity of 90,000 tonnes per annum.
The company's board, in its meeting held on October 20, fixed the issue price for its follow-on public issue (FPO) at Rs 40 per share, GSCL said in a statement.
The company proposes to issue 66 lakh equity shares of Rs 8 each for cash at a premium of Rs 32.
The issue would constitute 51.51 per cent of the fully diluted post-issue paid up capital of the company.
The sole lead manager for the issue is SREI Capital Markets Ltd.
GSCL is presently setting up a new unit at the existing facility at Muzzafarnagar, Uttar Pradesh for expanding its capacity by 20,000 tonnes per annum to manufacture ground calcium carbonate to cater specifically to the paper industry.
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After expansion, the company would have a capacity of 90,000 tonnes per annum.
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