Business Daily from THE HINDU group of publications
Wednesday, Jul 18, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jul 18, 2007 ePaper |
|
|
|
|
|
|
|
Markets
-
IPOs
Our Bureau Mumbai, July 17 Refex Refrigerants Ltd, a company engaged in the business of refilling non ozone depleting refrigerant gases, or hydrofluorocarbons (HFCs) proposes to enter the capital market with a public issue of 38 lakh equity shares of Rs 10 each at a premium of Rs 55 per share, aggregating Rs 24.70 crore. Ten per cent of the issue, aggregating Rs 2.47 crore is to be allotted to QIBs. The issue opens on July 23 and closes on July 26. Post issue, the promoters stake will come down to 75 per cent. The company proposes to utilise the net proceeds of the issue to part finance its Rs 36.15 crore expansion plan. The company is expanding its installed capacity of cylinders from the present 480 tonnes per annum to 3,000 tonnes per annum. Promoters are contributing Rs 5.95 crore towards the project and the company is raising Rs 5.50 crore though a term loan from Centurion Bank of Punjab, which has also appraised the expansion project. Refex is in the business of refilling HFC’s which are used in auto air-conditioners, room air-conditioners, refrigerators and refrigerating equipments. The company’s clients include Hyundai Motors, Godrej and Boyce manufacturing Co Ltd, Blue Star Ltd and Carrier Aircon Ltd. The company has entered into a technical collaboration with Kaltech Engineering and Refrigerants Pvt Ltd, Singapore. Kaltech shall provide technical backup to Refex for the activities of the company. Keynote Corporate Services Ltd is the book running lead manager for the issue and Ashika Capital Ltd is the co-lead manager for the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange.
More Stories on : IPOs | Air-conditioners & Refrigerators
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 | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, 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
|