Blue Bird public issue to open on Nov 16
Blue Bird (India) Limited, a leading manufacturer of paper-based notebook and stationery products, is entering the capital market with a public issue of 8,775,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per ...
By PTI |
MUMBAI: Blue Bird (India) Limited, a leading manufacturer of paper-based notebook and stationery products, is entering the capital market with a public issue of 8,775,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-building route.
The price band for the issue has been fixed at Rs 90-105, a release issued here today said.
The company will use the proceeds raised to finance the construction of its second major notebook manufacturing and printing unit in south India and to expand its existing plant in Pune.
The company also plans to augment its sales and distribution network as also its long-term working capital requirements and repay some existing long-term debts. Its registered and corporate office, presently on leave and licence, will also be purchased, the company stated.
The company has a strong presence in western and southern India and presently enjoys a 48 per cent market share among large, organised players in India.
In addition to notebooks, the company also manufactures products like files, perforated pads, registers and filler papers as part of its stationery business.
In FY 06, the company posted a total income and net profit of Rs 401.70 crore and Rs 25.12 crore. The issue opens on November 16 and closes on November 22.
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