Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Markets
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IPOs Adhunik Metaliks price band at Rs 37-42 Our Bureau
New Delhi , March 9 Adhunik Metaliks Ltd's public issue opens on March 13. The Kolkata-based company is to raise Rs 100 crore in the price band of Rs 37-42 per share bearing a face value of Rs 10 each. The proceeds will be used to part finance the expansion of the company's plant at Chadrihariharpur in Orissa, for which the State Government has sent its recommendations to the Centre, the Executive Director, Mr A.S. Mathur, told newspersons here today. The company plans to set up a second steel melting shop with vacuum degassing plan, rolling mill, argon-oxygen degassing plant with bloom continuous casting machinery, ferro alloy division and also a second captive power plant and other infrastructural facilities. The company expects huge demand for its products from the auto component industry apart from other steel users, he said.
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