Sita Shree Food Products will list on the bourses with equity shares on April 7, 2008. The issue price has been fixed at Rs 30 per share.
The company had entered capital market with an IPO of 1.16 crore equity shares of Rs 10 each. The issue was subscribed 2.44 times. Reserved portion of retail investors was subscribed over 4 times followed by non institutional investors's subscription of 3.25 times and QIBs over 1 time. The company has raised around Rs 34.8 crore.
The objects of the issue were to Finance the capital expenditure programs - setting up a Solvent Extraction Plant having 500TPD capacity, setting up a oil refinery for Solvent Extraction Plant having 100TPD capacity, setting up a Lecithin plant for processing the by products of Solvent Extraction Plant having 5TPD capacity at Badia Kima (M.P.) and setting up a Flour Mill of 275TPD. Other objects are to meet working capital margin requirement of the business, to meet the expenses of the issue and to enable listing of the equity shares of the company on the stock exchanges.
Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.
Lead manager to the issue is Keynote Corporate Services Limited and Ankit Consultancy Private Limited is the registrar.
Source: Moneycontrol.com
Thursday, April 3, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment