Iron and steel maker, Rathi Bars will list on the bourses on Friday, November 23, 2007. Its BSE ID is 532918.
The company had entered capital markets with an initial public offering (IPO) of 71.42 lakh equity shares with a face value of Rs 10 each at fixed price of Rs 35 per share and raised around Rs 25 crore from the issue.
Promoters diluted 44% of holding through this public issue. The company has a production capacity of 70,000 tons per annum and that will increase it to one lakh tons per annum.
The company has earmarked an investment of Rs 35 crore for purchasing and upgrading its equipment and other expansion plans. The public issue will fund the bulk of the expansion programme. The rest of the fund will come from internal accruals and debt market.
Source: Moneycontrol.com
Thursday, November 22, 2007
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