Business Daily from THE HINDU group of publications
Thursday, Feb 08, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Feb 08, 2007 ePaper |
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Corporate
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New Projects Markets - IPOs Our Bureau
MR NITIN MANDHANA (left), Vice-Chairman & Managing Director, Indus Fila Ltd, and Mr Anand Rathi, Chairman, Anand Rathi Securities Ltd, at a press conference to announce the IPO in Mumbai on Wednesday. — Paul Noronha
The price band has been fixed at Rs 170 to Rs 185. The issue opens on February 12 and closes on February 14. The proceeds will be used to part finance a Rs 166.24-crore plan to expand capacities in weaving, yarn dyeing, processing and garments. A Rs 74-crore term loan sanctioned under the TUF scheme and internal accruals will make up rest of the funds. The company is also setting up a Centre of Excellence near Bangalore for product development and a design studio. The expansion is expected to be completed within the next 12 months. Anand Rathi Securities Ltd is the book running lead manager and Datamatics Financial Services Ltd is the Registrar to the issue.
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