The Hindu Business Line : Kamdhenu Ispat to set up 5 stockyards

The Delhi-based construction steel manufacturer Kamdhenu Ispat Ltd, which is hitting the market on Monday with its maiden issue of 1.28 lakh equity shares, would be utilising the proceeds to set up stockyards across the country.

"The company has five stockyards in Punjab, Karnataka, Delhi, Haryana and Tamil Nadu and it will have another five in Himachal Pradesh, Rajasthan, Gujarat, Madhya Pradesh and Uttar Pradesh," the company's Chairman, Mr Satish Aggarwal, said.

The company is in the process of setting up a 2.4 million tonnes TMT bar manufacturing facility at Nigeria in partnership with one more Indian company and Nigerian companies. The construction work for this project has started.

Preliminary talks are also on to set up a franchisee facility in a West Asian country, company officials said. The company plans to raise Rs 32 crore through the public issue and with the greenshoe option the amount raised will stand at Rs 35.42 crore.

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