Manjushree Extrusions ends with 7.7% premium

Manjushree Extrusions has surged to an intraday high of Rs 66 before closing the day with a gain of Rs 7.7 or 17.11% at Rs 52.70 as against offer price of Rs 45. It traded with volumes of 3,15,92,603 shares. It has touched a low of Rs 47 though opened at Rs 48 on the BSE.

Vimal Kedia, Managing Director of Manjushree Extrusions says 70% of expansion already done and full growth is expected for the coming financial year.

Speaking to CNBC-TV18 Kedia said, “We foresee our topline to grow by 50% and the bottomline by 100%. We should be achieving Rs 130 crore of turnover during next year.”

The company had come out with its follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share and collected nearly Rs 23.07 crore.

Manjushree provides packaging solutions through manufacture of speciality plastic packaging products for multinational companies with whom the company enjoys a preferred supplier status, in FMCG, pharma, food processing and agrochemical sectors through an ongoing process of research oriented design and development.

Source: Moneycontrol.com

Manjushree Extrusions debuts with 6.67% premium

Manjushree Extrusions has listed with 6.67% premium at Rs 48 as against its issue price of Rs 45. The stock went up to a high of Rs 66 in early trade on the back of buying support though it touched a low of Rs 47.

It was trading at Rs 62.70, up by 39.33% or Rs 17.70, with volumes of 17,04,101 shares on the BSE, at 9:58 am.

The company had come out with its follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share and collected nearly Rs 23.07 crore.

Manjushree provides packaging solutions through manufacture of speciality plastic packaging products for multinational companies with whom the company enjoys a preferred supplier status, in FMCG, pharma, food processing and agrochemical sectors through an ongoing process of research oriented design and development.

Source: Moneycontrol.com

Manjushree Extrusions to list on Feb 28

Manjushree Extrusions will list on the BSE with its equity shares on February 28, 2008. The offer price is at Rs 45 per share.

The company had come out with its follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share and collected nearly Rs 23.07 crore.

It is already listed on Ahmedabad, Calcutta, and Guwahati Stock Exchanges.

The company intended to utilise the funds to part finance its expansion cum diversification project at a cost of Rs 53.70 crore, which is presently under implementation. A term loan of Rs 18 crore has been sanctioned by SBI for the project.

Manjushree provides packaging solutions through manufacture of speciality plastic packaging products for multinational companies with whom the company enjoys a preferred supplier status, in FMCG, pharma, food processing and agrochemical sectors through an ongoing process of research oriented design and development.

Source: Moneycontrol.com

Manjushree Extrusions IPO opens on Jan 7

Manjushree Extrusions, is making a rights-cum-follow on public offer of equity shares aggregating to Rs 35.70 crore.

The issue comprises of a rights issue of 42,10,800 equity shares of Rs 10 each for cash at a premium of Rs 20 per share aggregating to Rs 12.63 crore and a follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share aggregating to Rs 23.07 crore.

The rights issue will open on January 7, 2008 and close on February 6, 2008, while the public offer will open on January 31, 2008 and close on February 6, 2008.

Manjushree is currently listed on Ahmedabad, Kolkata and Guwahati Stock Exchanges and now proposes to also list on Bombay Stock Exchange.

Centrum Capital Ltd is the lead manager to the issue.

Source: Moneycontrol.com