Technocraft Industries IPO bids start today
Technocraft Industries (India) is open for subscription with an IPO to raise around Rs 87.36 crore in the upper end of the price band of Rs 95-105 per share.
The proceeds will primarily be used to part-finance expansion of its drum closure and yarn divisions.On offer are 83,20,000 equity shares forming about 25.06% of the fully diluted post-issue paid up capital of the company. The issue closes on January 23.
About 4,20,000 equity shares are reserved for employees with 79,00,000 shares being the net public issue.
The company is to set up a new plant with a capacity of 9 million sets of drum closures per annum along with a 15 MW captive power plant to reduce power costs.The company is adding 25,000 thousand spindles to increase the capacity of the yarn division to 61,104 spindles.
Anand Rathi Securities and Centrum Capital are lead managers to the issue.
The proceeds will primarily be used to part-finance expansion of its drum closure and yarn divisions.On offer are 83,20,000 equity shares forming about 25.06% of the fully diluted post-issue paid up capital of the company. The issue closes on January 23.
About 4,20,000 equity shares are reserved for employees with 79,00,000 shares being the net public issue.
The company is to set up a new plant with a capacity of 9 million sets of drum closures per annum along with a 15 MW captive power plant to reduce power costs.The company is adding 25,000 thousand spindles to increase the capacity of the yarn division to 61,104 spindles.
Anand Rathi Securities and Centrum Capital are lead managers to the issue.
posted by SY at 7:33 PM
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