Financial Daily from THE HINDU group of publications
Tuesday, May 16, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 16, 2006 |
|
|
|
|
|
|
|
Corporate
-
Public Offer Rathi Udyog plans follow-on issue Our Bureau
Mr Pradeep Rathi, Managing Director, Rathi Udyog Ltd, with Mr K. Srinivas, President, UTI Securities Ltd, at a press conference in Mumbai on Monday. - Paul Noronha
Mumbai , 15 May Rathi Udyog Ltd, part of the Delhi-based P.C. Rathi Group and a manufacturer of long steel products, plans to tap the capital market with a Rs 98-crore follow-on public issue. The shares would be of Rs 10 each for cash at a premium to be decided through the book building process. The issue would be 100 per cent book built. The issue opens on May 19 and closes on May 25, an official statement said. According to it, the funds raised will be used to finance expansion plans at the company's Ghaziabad facility. It will also use the funds to set up an integrated steel project at Sambalpur, Orissa for manufacture of 150,000 tonne of sponge iron and 150,000 tonne of steel billets along with a 20 MW captive power plant. The cost of projects is estimated at Rs 277.77 crore. It will be funded through term loans of Rs 179.77 crore with the balance being met from issue proceeds.
More Stories on : Public Offer | Steel
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, 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
|