• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Nov. 28

Ess Dee Aluminium Ltd (EDAL), an end-to-end pharmaceutical packaging solutions provider, will enter the capital market with an initial public issue of 69.60 lakh equity shares of Rs 10 each at a premium to be decided by the book building process. The price band for the issue has been fixed at Rs 200-Rs 225 per share.

The company has reserved 1.5 lakh equity shares for eligible employees and the net offer to the public would be 68.10 lakh equity shares. The net issue to the public constitutes 25.79 per cent of the post-issue fully diluted equity capital. The issue opens on December 4 and closes on December 8.

Of the net issue to the public, 50 per cent will be allocated to QIBs, of which mutual funds will receive 5 per cent. Non-institutional bidders will receive 15 per cent while 35 per cent of the net issue will be allocated to retail individual bidders on a proportionate basis.

Expansion Project

The issue will part finance the new expansion project at Daman costing Rs 114.79 crore to raise the company's aluminium foil rolling capacity from 3,600 tonnes per annum to 18,000 tonnes per annum. The company plans to foray into food-based aluminium packaging. "The IPO would help us tap future growth opportunities in aluminium-based pharmaceutical, FMCG and food packaging business," said Mr Sudip Datta, Chairman and Managing Director, Ess Dee Aluminium Ltd. UTI Securities Ltd and Enam Financial Consultants Pvt Ltd are the book running lead managers to the issue.

More Stories on : IPOs | New Projects | Packaging | Pharmaceuticals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Crisil to grade broking outfits on 5-point scale

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