Kiri Dyes files papers with SEBI
Kiri Dyes and Chemicals has filed papers with the Securities & Exchange Board of India for initial public offer of 50 lakh equity shares of Rs 10 each. The price band of the 100 per cent book building issue will be decided later.
By INDIATIMES NEWS NETWORK |
MUMBAI: Kiri Dyes and Chemicals has filed papers with the Securities & Exchange Board of India for initial public offer of 50 lakh equity shares of Rs 10 each. The price band of the 100 per cent book building issue will be decided later.
Kiri Dyes is looking to raise over Rs 50 crore to set up a plant to manufacture sulphuric acid, oleum and chloro sulphonic acid with a combined capacity of 500 metric tonne per day in Dudhwada in Vadodara. It will use funds for the capital expenditure for dyes and intermediates unit at Ahmedabad.
Ratings agency Crisil has assigned a two-on-five grading to the company for its proposed initial public offering. The grade indicates that fundamentals of the issue are below average relative to other listed securities.
The company manufactures reactive dyes also known as synthetic organic dyes and dye intermediates. These dyes are used in textiles, leather, paint and printing-ink industries. It has a total production capacity of 10,800 metric tonne per annum.
The company posted net profit of Rs 8.6 crore for 2006-07 (Apr-Mar) and Rs 4.6 crore in 2005-06 (Apr-Mar). Its operating income stood at Rs 133 crore and Rs 91.4 crore during the same period.
Kiri Dyes is looking to raise over Rs 50 crore to set up a plant to manufacture sulphuric acid, oleum and chloro sulphonic acid with a combined capacity of 500 metric tonne per day in Dudhwada in Vadodara. It will use funds for the capital expenditure for dyes and intermediates unit at Ahmedabad.
Ratings agency Crisil has assigned a two-on-five grading to the company for its proposed initial public offering. The grade indicates that fundamentals of the issue are below average relative to other listed securities.
The company manufactures reactive dyes also known as synthetic organic dyes and dye intermediates. These dyes are used in textiles, leather, paint and printing-ink industries. It has a total production capacity of 10,800 metric tonne per annum.
The company posted net profit of Rs 8.6 crore for 2006-07 (Apr-Mar) and Rs 4.6 crore in 2005-06 (Apr-Mar). Its operating income stood at Rs 133 crore and Rs 91.4 crore during the same period.
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