Business Daily from THE HINDU group of publications
Thursday, Feb 08, 2007
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Business Daily from THE HINDU group of publications Thursday, Feb 08, 2007 ePaper |
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Markets
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IPOs Corporate - New Projects Our Bureau
The issue opens on February 8 and closes on February 14. The company has made a pre-IPO placement of 19.2 lakh equity shares to SIDBI Venture Capital Ltd and State Bank of India, leaving a net offer to the public constituting 25.29 per cent of the post issue paid-up capital of the company. Up to 50 per cent of the issue size shall be allocated to QIBs. Further, a minimum of 15 per cent of the issue shall be available for non-institutional bidders and a minimum of 35 per cent for retail investors. The company proposes to utilise the proceeds to expand its manufacturing facilities by setting up a new integrated unit with yarn dyeing, weaving, process house and garment manufacturing facilities near Bangalore and Tarapur with an estimated investment of Rs 177.4 crore. Of this, Rs 100.8 crore would be invested through debt. "The total capacity after expansion would be 35,500 pieces per day from the existing 10,500 pieces per day. The expansion of the garmenting unit would be completed by May and the processing unit by October this year," said Mr Ganesh Surana, Chief Financial Officer, Mudra Lifestyle. The company sells fabrics in domestic as well as international markets.
More Stories on : IPOs | New Projects | Textiles
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