Financial Daily from THE HINDU group of publications
Saturday, Jun 10, 2006
Financial Daily from THE HINDU group of publications Saturday, Jun 10, 2006 |
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Markets
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IPOs Our Bureau
New Delhi , June 9 Gulshan Sugars & Chemicals Ltd, one of the largest producers of calcium carbonate in the country, on Friday filed the draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) to enter the capital market with a fixed price follow-on issue of equity shares, according to an official release. The company proposes to issue 66,00,000 equity shares of Rs 8 each for cash at a premium. "The exact pricing of the issue will be decided at the time we file the necessary documents with the RoC. This is expected to be some where around the middle of July as we expect to get the observations from SEBi in three to four weeks time," the company's Director (Finance), Mr A.K. Maheshwari, said. He said if everything goes on well the issue could hit the market by end of July or beginning of August.
Listing
The issue would constitute 51.51 per cent of the fully diluted post issue paid-up capital of the company. The equity shares of the company are presently listed on the BSE. It has now proposed to list the equity shares on the NSE also.
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