Financial Daily from THE HINDU group of publications
Thursday, Oct 16, 2003

Port Info

Group Sites

Corporate - Announcements
Markets - IPOs

Jai Balaji to float Rs 10-cr IPO

Our Bureau

Hyderabad , Oct. 15

THE Kolkata-based Jai Balaji Sponge Ltd is coming out with its maiden public issue of one-crore equity shares of Rs 10 each for cash at par.

The Rs 10-crore issue opens on October 21 and closes by the month-end. The amount payable on application is Rs 2.50 per share.

According to Mr Rakesh Sony, Executive Director (Investment Banking) of Microsec India Ltd, the lead manager of the issue, the proceeds of the public issue will be utilised to part-finance the installation of pollution control equipment and to augment the long-term working capital requirement of the company.

The installation of PCE will facilitate the setting up of a 12-MW waste heat recovery-based captive power plant that will reduce future power cost of the company substantially.

Mr Sony told newspersons here on Wednesday that the company has a 1.05-lakh tonne per annum capacity sponge iron producing unit in Ranigunj and 85,000-tonne capacity M S ingots producing unit in Durgapur in West Bengal.

The group, promoted by Messrs Sanjiv Jajodia, Rajiv Jajodia and Aditya Jajodia, has a combined turnover of Rs 125 crore per annum.

He said that the company's current net asset value per share was Rs 15 and cash earnings per share stood at Rs 4.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Kochi Refineries on modernisation path

GNFC plant mishap claims 5 lives
Jai Balaji to float Rs 10-cr IPO
BSES gets 50 offers for power purchase plan
BSES to introduce pre-paid power
Shriram group strikes it rich in Hi-Tech Arai deal
Astec Valve gets Dh1 m orders for `GasFuse' product
Kopran product bags US patent
Caterpillar to increase sourcing from India
Natco gets DSIR award
BSES net jumps to Rs 88.83 cr in Q2
Padmalaya Tele Q2 net up
Micro Labs acquires Dr Reddy's Pondy plant
Bikanervala to set up units in Canada, Dubai
Voltas sets up shop in Dubai
Chinese ceramic co to set up unit in Gujarat
Le Meridien hotels at Ahmedabad, Kovalam, Jaipur soon
Tata group cos exempted from open offer for TFL
Strides signs supply pact with Japanese co
Genome, Shasun in bioinformatics deal
FMCG majors brainstorm to ease supply-chain bottlenecks
Cost management workshop by Kerala-CII
FACT revival: Time running out?
Rival unions clash; Chittivalasa mill locked out again
RSP's new mantra to achieve 100% capacity utilisation
Everest on growth path; plans fresh investments
Alloy Steel's saleable steel output up 15 pc
New Ranbaxy CFO

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line