Barak Valley’s Rs 37-42/share IPO opens on Monday
The company has fixed price band of the book-built offer at Rs 37-Rs 42 per share of Rs 10 each. The issue closes on Nov 1
By INDIATIMES NEWS NETWORK |
MUMBAI: Barak Valley Cements’ 56.60-lakh share offer hits markets Monday. The company has fixed price band of the book-built offer at Rs 37-Rs 42 per share of Rs 10 each. The issue closes on Nov 1.
Net issue to the public of 55.47 lakh equity shares would constitute 25.03 per cent of the post-issue paid up capital.
At the lower price band, the company would raise around Rs 20.72 core and at cap price Rs 23.52 crore.
Barak Valley plans to use the proceeds to part finance expansion of clinkerisation capacity from present 420 tonne per day to 600 tpd; cement grinding capacity from 460 tpd to 750 tpd; invest in wholly owned subsidiary Badarpur Energy; set up 6 MW biomass based power project; and to meet the working capital requirements.
The shares will be listed on the National Stock Exchange and Bombay Stock Exchange.
Barak Valley Cements manufactures various grades of Ordinary Portland Cement and Portland Pozzolana Cement, and its main market is the north-east.
The current cement manufacturing capacity of the company, including that of wholly owned subsidiaries, is 760 tpd, which will increase to 1,050 tpd post expansion.
Barak Valley sold around 1.60 lakh tonne of cement in 2006-07 (Apr-Mar).
Net issue to the public of 55.47 lakh equity shares would constitute 25.03 per cent of the post-issue paid up capital.
At the lower price band, the company would raise around Rs 20.72 core and at cap price Rs 23.52 crore.
Barak Valley plans to use the proceeds to part finance expansion of clinkerisation capacity from present 420 tonne per day to 600 tpd; cement grinding capacity from 460 tpd to 750 tpd; invest in wholly owned subsidiary Badarpur Energy; set up 6 MW biomass based power project; and to meet the working capital requirements.
The shares will be listed on the National Stock Exchange and Bombay Stock Exchange.
Barak Valley Cements manufactures various grades of Ordinary Portland Cement and Portland Pozzolana Cement, and its main market is the north-east.
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The current cement manufacturing capacity of the company, including that of wholly owned subsidiaries, is 760 tpd, which will increase to 1,050 tpd post expansion.
Barak Valley sold around 1.60 lakh tonne of cement in 2006-07 (Apr-Mar).
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